商品日报（10月20日）：二育升温生猪大幅反弹近3% 贵金属延续回调

Group 1: Market Overview - The domestic commodity futures market on October 20 showed mixed results, with main contracts for live pigs, coking coal, and apples rising over 2%, while silver, polysilicon, and other contracts saw declines exceeding 3% [1][4][5] - The China Securities Commodity Futures Price Index closed at 1469.44 points, down 11.80 points or 0.80% from the previous trading day, while the Commodity Index closed at 2027.47 points, down 16.48 points or 0.81% [1] Group 2: Agricultural Products - The agricultural products sector was notably active, with live pigs leading the market with a 2.88% increase, driven by a rebound in prices despite ongoing supply pressures [2] - Apples reached a new high not seen since December 2023, closing up 2.26%, supported by strong demand for quality produce and improved supply conditions following recent weather changes [3] Group 3: Live Pigs Market Analysis - Despite a short-term price rebound for live pigs, the overall market sentiment remains cautious due to expected increases in supply during the fourth quarter, with a total pig inventory of 43.68 million heads, up 2.3% year-on-year [2] - The breeding sow inventory decreased slightly, indicating potential long-term supply adjustments [2] Group 4: Polysilicon Market Analysis - Polysilicon contracts fell by 3.66%, reflecting a weak supply-demand balance and increasing social inventory, with expectations of reduced production in the coming months [5] - The market remains sensitive to policy developments regarding photovoltaic capacity control, with uncertainty surrounding the timing of policy implementation [5] Group 5: Precious Metals Market Analysis - Precious metals, particularly silver and gold, experienced a pullback after recent highs, with silver contracts down 3.99% and gold down 1.63% [4] - Future market trends for gold may resemble the wide fluctuations seen from April to August, influenced by geopolitical factors and trade developments [4]