中文摘要：

笔者以价格传递理论为基础，用VAR模型验证了我国部分地区饲草及畜产品价格与畜牧业上市公司股票价格之间的关系。结果表明，二者之间存在长期均衡关系。Granger因果关系检验显示，全国平均饲草及畜产品价格是畜牧业上市公司股票价格的格兰杰原因。

英文摘要：

Based on priee transmission theory, using VAR model, the authors empirically analyse the relationship between forage and livestock product prices and the stock price of livestock listed companies. The results of co - integration analysis suggest that there exists a long - term equilibrium relationship between the two. Granger - causality test suggests that the average forage and livestock product of the whole country is the Granger causality of the stock prices of livestock listed companies.