河南猪肉：5月均价19.05元/公斤，6月或先弱后强

Core Viewpoint - In May, the pork market in Henan experienced a price fluctuation, with an average price of 19.05 yuan/kg, reflecting a slight decrease compared to the previous month and year. The market is expected to see a weak start followed by a stronger performance in June, with prices anticipated to narrow down slightly month-on-month [1] Price Trends - The average price of pork in Henan for May was 19.05 yuan/kg, down 0.83% month-on-month and 6.88% year-on-year [1] - The highest price in May reached 19.40 yuan/kg at the beginning of the month, while the lowest was 18.25 yuan/kg on May 23, indicating a price fluctuation range of 1.15 yuan/kg, which is a 109% increase in volatility compared to the previous month [1] Supply and Demand Dynamics - Pork supply in Henan remained high in May, with an average daily fresh pork sales volume of 24,524 heads, a year-on-year increase of 27.73% [1] - The number of live pigs slaughtered daily in May was 27,202 heads, reflecting a month-on-month decrease of 6.58% but a year-on-year increase of 10.57% [1] - The supply pressure is expected to limit the price increase of pork, despite strong intentions for secondary fattening after price declines [1] Future Outlook - The pork price in Henan is projected to experience a weak start followed by a potential recovery in June, influenced by demand fluctuations and high supply levels [1] - The demand is expected to dip post-holiday, but a rebound may occur around the Dragon Boat Festival, leading to a potential price increase [1] - The upstream market is facing pressure from high pig weights and price inversions, which may lead to a price drop, but strong secondary fattening intentions could support a price rebound [1]