市场供需双弱 生猪期货维持低位窄幅震荡格局

Market Overview - As of January 9, the profit from self-bred pigs was a loss of 11.54 yuan per head, improving from a loss of 34.59 yuan per head the previous week. The profit from purchased piglets was a loss of 2.31 yuan per head, compared to a loss of 48.35 yuan per head the prior week [1] - The average daily price of live pigs in China was 12.6 yuan per kilogram, with a slight increase of 0.02 yuan per kilogram week-on-week. In Henan, the benchmark delivery price was 12.98 yuan per kilogram, showing a decrease of 0.02 yuan per kilogram [1] Institutional Insights - According to Chaos Tiancheng Futures, the recent pig market is characterized by weak supply and demand, with reduced volatility in the spot market post-New Year. The basic indicators for pig prices are expected to strengthen as market sentiment cools, with supply potentially increasing in mid-January. Close attention is needed on the actual versus planned slaughter rates and the upcoming Spring Festival stocking demand [3] - Nanhua Futures noted that the price of standard pigs had rebounded slightly due to limited entry of new pigs and some reluctance to sell among larger producers. However, without significant improvements in supply-demand dynamics, pig prices are expected to remain low and fluctuate within a narrow range [4]