多方需求增加，猪价开始上涨

Core Insights - The recent increase in pork prices in Shandong Province is attributed to a decline in the number of pigs being sold and a rise in demand due to the New Year holiday [1] - The average price of fat pigs in the first week of the new year was 12.57 yuan per kilogram, a year-on-year decrease of 21.97% but a month-on-month increase of 6.44% [1] - The average price of pork was 22.38 yuan per kilogram, showing a year-on-year decrease of 20.30% but a month-on-month recovery of 3.85% [1] Supply and Demand Dynamics - The narrowing of industry losses is linked to the rising prices of fat pigs and increased enthusiasm among farmers to replenish their herds, leading to a rise in demand for piglets [1] - The average price of piglets is currently 21.65 yuan per kilogram, down 31.23% year-on-year but up 1.17% month-on-month [1] - The main factors influencing the recent recovery in pork prices include the decline in pig sales and increased demand during the New Year holiday [1] Market Outlook - The market is expected to maintain a stable yet slightly declining trend in pork prices, with overall fluctuations remaining narrow [1] - Supply-side pressures include excess production capacity and concentrated sales of pigs, which may limit the upward momentum of pork prices [2] - The demand for pork is expected to weaken post-New Year, with a reduction in orders from slaughterhouses and a slower sales pace for fresh pork [2]