农产品日报：压栏情况延续，猪价维持震荡-20250515

Group 1: Investment Ratings - The investment rating for both the pig and egg industries is neutral [2][5] Group 2: Core Views - For the pig industry, although the supply of pigs is increasing monthly, the spot price is not under significant pressure and hovers around 15 yuan. The growth in demand can currently absorb the supply. The spot price is expected to remain stable, and the futures market is deeply discounted. In the long term, the pig supply will continue to grow, and changes in supply and demand need to be monitored [2] - For the egg industry, after the May Day holiday, demand weakened, spot prices declined, inventory increased, and breeding profits remained in the red. As the Dragon Boat Festival approaches, food companies have pre - holiday stocking needs, but due to weather in southern sales areas, the overall demand is increasing slowly. In the short term, the supply - demand imbalance of oversupply is difficult to change, and attention should be paid to Dragon Boat Festival stocking [4][5] Group 3: Market News and Key Data (Pig) - Futures: The closing price of the live pig 2509 contract was 14,020 yuan/ton, up 135 yuan/ton or 0.97% from the previous trading day [1] - Spot: In Henan, the price of external ternary live pigs was 15.04 yuan/kg, down 0.03 yuan/kg; in Jiangsu, it was 15.19 yuan/kg, unchanged; in Sichuan, it was 14.61 yuan/kg, unchanged [1] - Agricultural product wholesale prices: On May 14, the "Agricultural Product Wholesale Price 200 Index" was 115.15, down 0.15 points; the "Vegetable Basket" product wholesale price index was 115.49, down 0.17 points. The average price of pork was 20.90 yuan/kg, up 0.4%; beef was 63.24 yuan/kg, down 0.3%; mutton was 59.96 yuan/kg, up 0.4%; eggs were 7.85 yuan/kg, down 0.1%; and white - striped chickens were 17.32 yuan/kg, up 2.3% [1] Group 4: Market News and Key Data (Egg) - Futures: The closing price of the egg 2506 contract was 2,921 yuan/500 kilograms, up 3 yuan or 0.10% from the previous trading day [3] - Spot: In Liaoning, the egg spot price was 3.16 yuan/jin, unchanged; in Shandong, it was 3.35 yuan/jin, unchanged; in Hebei, it was 2.89 yuan/jin, down 0.04 yuan [3] - Inventory: On May 14, 2025, the national production - link inventory was 0.82 days, up 0.01 days or 1.23%; the circulation - link inventory was 1.21 days, down 0.05 days or 3.97% [3]