Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-04-21 10:42Report General Information - Report Name: Pig Industry Daily Report 2025-04-21 [1] - Researcher: Liu Yuping [2] - Researcher's Futures Practice Qualification Number: F0308127 [2] - Researcher's Futures Investment Consulting Practice Certificate Number: Z0012251 [2] Report Investment Rating - No investment rating information provided in the report Core Viewpoints - The sow production capacity is on an increasing trend, and there is medium - term supply pressure. However, in the short term, the active entry of secondary fattening and the reluctance of farmers to sell at low prices buffer the supply pressure [2]. - Last week, the upward trend of the slaughterhouse's operating rate was blocked. But approaching the May Day holiday, the terminal demand may improve later [2]. - Overall, the secondary fattening market and pre - holiday demand are expected to improve, supporting the stable fluctuation of spot prices. The short - term pig futures market is expected to fluctuate slightly stronger, but the medium - term supply pressure remains, and the upside space should be viewed with caution. Attention should be paid to the price difference between standard and fat pigs, the slaughter situation, and the slaughter weight [2]. Summary by Directory 1. Futures Disk - The closing price of the main futures contract for pigs is 14,555 yuan/ton, with a week - on - week increase of 90 yuan/ton [2]. - The position of the main contract for pigs is 79,537 lots, with a week - on - week increase of 1,945 lots [2]. - The number of pig warehouse receipts is 515 lots, with no week - on - week change [2]. - The net long position of the top 20 futures positions for pigs is - 18,432 lots, with a week - on - week increase of 564 lots [2]. 2. Spot Prices - The pig price in Zhumadian, Henan is 15,000 yuan/ton, with a week - on - week decrease of 100 yuan/ton [2]. - The pig price in Siping, Jilin is 14,700 yuan/ton, with a week - on - week decrease of 100 yuan/ton [2]. - The pig price in Yunfu, Guangdong is 15,600 yuan/ton, with a week - on - week increase of 200 yuan/ton [2]. - The main basis for pigs is 445 yuan/ton, with a week - on - week decrease of 190 yuan/ton [2]. 3. Upstream Situation - The monthly pig inventory is 42,7430,000 heads, with an increase of 490,000 heads [2]. - The monthly inventory of breeding sows is 4,0660,000 heads, with an increase of 40,000 heads [2]. 4. Industry Situation - The year - on - year change of CPI in the current month is - 0.7%, with a decrease of 1.2 percentage points [2]. - The spot price of soybean meal in Zhangjiagang is 3,450 yuan/ton, with a week - on - week increase of 230 yuan/ton [2]. - The spot price of corn is 2,268.04 yuan/ton, with no week - on - week change [2]. - The Dalian Commodity Exchange's pig feed cost index is 940.11, with a week - on - week increase of 6.19 [2]. - The monthly output of feed is 27,772,000 tons, with a decrease of 664,000 tons [2]. - The weekly price of binary breeding sows is 1,641 yuan/head, with no week - on - week change [2]. - The weekly breeding profit for purchasing piglets is 21.88 yuan/head, with a week - on - week increase of 33.74 yuan/head [2]. - The weekly breeding profit for self - breeding and self - raising pigs is 79.46 yuan/head, with a week - on - week increase of 28.31 yuan/head [2]. - The monthly import volume of pork is 80,000 tons, with a decrease of 20,000 tons [2]. - The weekly average price of white - striped chickens in the main producing areas is 13.5 yuan/kg, with a week - on - week decrease of 0.3 yuan/kg [2]. 5. Downstream Situation - The monthly slaughter volume of designated pig slaughtering enterprises is 2,1770,000 heads, with a decrease of 1,6390,000 heads [2]. - The monthly value of catering revenue in total social consumer goods retail is 423.5 billion yuan, with a decrease of 131.4 billion yuan [2]. 6. Industry News - According to the sample data of key breeding enterprises from Shanghai Ganglian, the daily national pig slaughter volume of key breeding enterprises on April 21, 2025, was 257,630 heads, a 3.49% decrease from Friday [2].