Report Information - Report Title: Pig Daily Report [1] - Date: May 14, 2025 [2] Industry Investment Rating - No information provided Core View - The supply of live pigs is increasing, demand is weakening, and the supply - demand situation is relatively loose, resulting in a weak spot price. The futures contracts are all at a discount to the spot, and they are mainly oscillating weakly due to the off - season demand and the expected second - fattening出栏 [7] Summary by Directory 1. Market Review and Operation Suggestions - Futures Market: On the 13th, the main 2509 contract of live pigs opened flat, then bottomed out and rebounded, closing up at the end of the session. The highest was 13,910 yuan/ton, the lowest was 13,845 yuan/ton, and the closing price was 13,885 yuan/ton, unchanged from the previous day. The total index position decreased by 725 lots to 150,659 lots [7] - Spot Market: On the 13th, the national average price of external ternary pigs was 14.75 yuan/kg, down 0.02 yuan/kg from the previous day [7] - Demand Side: Currently, the fattening cost is low and the breeding profit is good, but the price difference between fat and standard pigs is inverted, and the utilization rate of pigsty is relatively high. The enthusiasm for secondary fattening to replenish inventory is average, mainly in a sporadic and continuous entry state. Terminal demand has weakened, and the slaughter rate and volume of slaughtering enterprises have declined. On May 13, the slaughter volume of sample slaughtering enterprises was 147,300 heads, an increase of 100 heads from the previous day and a decrease of 3,100 heads from a week ago [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 breeding side is actively slaughtering, and with the continuous slaughter of previously second - fattened pigs, the slaughter weight has increased slightly [7] 2. Industry News - From May 8th, the average market sales price of 15 - kg piglets was 647 yuan/head, a decrease of 3 yuan/head from the previous week [10] - As of May 8th, the average profit per self - bred and self - raised pig was 189 yuan/head, a week - on - week decrease of 2 yuan/head; the average profit per pig purchased with piglets was 132 yuan/head, a week - on - week increase of 13.5 yuan/head [10] - From May 8th, the average national slaughter weight was 129.71 kg, an increase of 0.5 kg from the previous week, with a week - on - week increase of 0.39% [11]
建信期货生猪日报-20250514
Jian Xin Qi Huo·2025-05-14 02:46