建信期货生猪日报-20250507

Report Information - Report Title: Pig Daily Report - Date: May 07, 2025 - Industry: Pig Industry Core Viewpoints - The supply of live pigs tends to increase, demand weakens, and the spot price is mainly weak. Futures contracts are at a discount to the spot and are mainly volatile and weak [7] Section Summaries 1. Market Review and Operation Suggestions - Futures Market: On the 6th, the main 2509 contract of live pigs opened slightly lower, then rebounded and fluctuated higher, closing up 0.32% at 13,960 yuan/ton. The total open interest of the index increased by 1,640 lots to 146,158 lots [7] - Spot Market: On the 6th, the national average price of foreign三元 was 14.81 yuan/kg, down 0.01 yuan/kg from the previous day [7] - Demand Side: The current fattening cost is low and the breeding profit is good, but the pen utilization rate is relatively high. The enthusiasm for secondary fattening replenishment is average, and it is mainly sporadic and continuous entry. After the festival, the terminal demand weakened, and the slaughter rate and volume of slaughtering enterprises declined [7] - Supply Side: According to Yongyi sample data, the planned sales volume in May is 23.65 million heads, a 1.98% increase from the actual slaughter volume in April. The post - festival slaughter of the breeding side is average, and the slaughter weight has increased slightly [7] 2. Industry News - From April 26 - 30, the weekly slaughter volume of the sample was 1.3223 million heads; the daily average slaughter volume of the sample was 147,408 heads, an increase of 7,798 heads from the previous week, with a daily average increase of 5.59% [10] - From April 26 - 30, the average market sales price of 15kg piglets was 649 yuan/head, the same as the previous week [10] 3. Data Overview - As of April 30, the average profit per head of self - breeding and self - raising was 191 yuan/head, a week - on - week decrease of 21.5 yuan/head; the average profit per head of purchasing piglets for breeding was 119 yuan/head, a week - on - week decrease of 5 yuan/head [19] - From April 26 - 30, the average national slaughter weight was 129.22 kg, an increase of 0.28 kg from the previous week, with a week - on - week increase of 0.22%, a month - on - month increase of 0.26%, and a year - on - year increase of 2.69% [19]