生猪日报：出栏压力有限，价格震荡运行-20250514

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - The overall price of live pigs across the country is mainly fluctuating, with slight declines in some areas. The supply - side pressure is relatively limited, and it is expected that the pig price will generally continue to fluctuate. The futures market is expected to have a narrow - range oscillation [4][6]. 3. Summary by Related Content 3.1 Price Information - Spot prices: Today, the average spot price of live pigs was 14.37 yuan/kg, down 0.06 yuan/kg from yesterday. Prices in most regions remained stable, with slight declines in some areas such as Hubei, Anhui, Jiangsu, Yunnan, Hebei, and Guizhou [4]. - Futures prices: Some futures contracts showed an upward trend. For example, LH07 increased by 50 to 13,575, and LH09 increased by 15 to 13,885. However, some contracts declined, like LH01 decreased by 5 to 13,780, and LH05 decreased by 110 to 14,090 [4]. - Prices of sows and piglets: Piglet prices were 517 yuan this week, down 12 yuan from last week, while sow prices remained unchanged at 1,631 yuan [4]. - Breeding profits: The self - breeding and self - raising profit was 84.33 yuan/head, down 0.71 yuan/head from yesterday, and the profit from purchasing piglets was 58.46 yuan/head, up 9.92 yuan/head from yesterday [4]. 3.2 Supply - side Situation - Slaughter volume: The slaughter volume today was 147,333 heads, an increase of 100 heads from yesterday [4]. - Weight and price difference of pigs: The price difference between different weights of pigs has significantly decreased compared to before. The enthusiasm for weight gain on the breeding side is average. The enthusiasm for secondary fattening has declined [4]. - Farmers' sales: The sales situation on the breeding side has slightly improved. The sales of large - weight pigs have increased, while the motivation for selling standard pigs remains low. The sales of large - scale enterprises have returned to normal after a previous increase in the sales rhythm [4]. 3.3 Trading Strategies - Single - side trading: Mainly fluctuate [7]. - Arbitrage: LH79 reverse arbitrage [7]. - Options: Sell the wide - straddle strategy [7].