国泰海通：肉奶周期共振下牧业企业盈利弹性较强

智通财经2025-08-22

智通财经APP获悉，国泰海通发布研报称，8-9月青贮采购季牧场收储资金压力较大，社会存栏有望加速去化。25H2受益于供给端热应激下减产与前期后备牛去化效果显现，需求旺季下行业有望进入供需平衡通道。受进口牛肉量缩减影响(25H1同比-9.5%)，25年以来牛肉/活牛价格低位反转，较前期低点上涨约10%/20%，供给去化下牛价有望进一步增长。肉奶周期共振下牧业企业盈利弹性较强。建议增持牧业龙头优然牧业...

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国泰海通：肉奶周期共振下 牧业企业盈利弹性较强

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国泰海通：肉奶周期共振下牧业企业盈利弹性较强