华泰期货养殖周报：疫情仍然散发，仔猪补栏偏好

Group 1: Swine Market Overview - The futures market for live pigs closed at 11,770 yuan/ton on January 9, 2026, a decrease of 25 yuan from the previous week [3] - In the spot market, the price of external three yuan pigs in Henan is 12.93 yuan/kg, up 0.28 yuan/kg from last week, while in Jiangsu it is 13.19 yuan/kg, up 0.19 yuan/kg, and in Sichuan it is 12.98 yuan/kg, up 0.03 yuan/kg [3][12] - The average weight of external three yuan pigs slaughtered nationwide is 123.32 kg, a slight decrease of 0.03 kg from last week [4][14] Group 2: Supply and Demand Dynamics - The number of breeding sows in December was 5.0202 million, a slight decrease of 0.18% month-on-month and a year-on-year decline of 0.47% [4][13] - The slaughtering rate of enterprises is 36.63%, down 3.71 percentage points from last week but up 0.68 percentage points year-on-year [4][15] - The demand for pork has shown a downward trend post-holiday, with a slowdown in fresh product turnover and a decrease in fresh sales rate by 0.59% [4][15] Group 3: Market Trends and Price Movements - The pig price has shown a fluctuating upward trend, with the average price increasing week-on-week after a slight decline at the beginning of the week [5][14] - The market sentiment is gradually improving, supported by a decrease in supply and an increase in demand for piglets post-holiday [6][15] - The price of piglets has seen a significant increase in the short term, indicating a potential recovery in replenishment demand [6][15] Group 4: Egg Market Overview - The futures market for eggs closed at 3,040 yuan/500 kg on January 9, 2026, an increase of 89 yuan, or 3.02% [8][16] - The number of laying hens in December was approximately 1.295 billion, a decrease of 0.92% month-on-month but an increase of 7.11% year-on-year [8][16] - The inventory levels in production and circulation segments have decreased, indicating a normalization of stock levels [9][17] Group 5: Demand and Supply in Egg Market - The demand for eggs has been stimulated by pre-Spring Festival stocking, leading to increased purchasing activity among traders [9][17] - The overall supply remains relatively abundant, with a slower rate of old hen culling impacting the supply dynamics [9][17] - The market sentiment is expected to support egg prices in the near term, although there is a need to monitor potential price corrections [9][17]