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建信期货生猪日报-20250604
Jian Xin Qi Huo·2025-06-04 01:18

Group 1: Report Information - Report title: Pig Daily Report [1] - Date: June 04, 2025 [2] - Research team: Agricultural Products Research Team [4] Group 2: Market Review and Operation Suggestions Futures - On June 3, the main 2509 contract of live pigs opened slightly lower, then rose and fell back, closing with a decline. The highest price was 13,645 yuan/ton, the lowest was 13,485 yuan/ton, and the closing price was 1510 yuan/ton, down 0.81% from the previous day. The total open interest of the index increased by 3497 lots to 162,323 lots [6] Spot - On June 3, the average price of ternary pigs nationwide was 14.36 yuan/kg, down 0.06 yuan/kg from the previous day [6] Demand - Currently, the price difference between fat and standard pigs is inverted, and the utilization rate of pigsties is relatively high. The enthusiasm for secondary fattening to replenish the inventory has decreased, and most are waiting and watching. As the temperature rises, terminal demand weakens. After the Dragon Boat Festival, the orders of slaughtering enterprises have significantly decreased, and the operating rate and slaughter volume of slaughtering enterprises have declined. On June 3, the slaughter volume of sample slaughtering enterprises was 144,300 heads, 500 heads less than the previous day and 7000 heads less than a week ago [6] Supply - According to Yongyi sample data, the slaughter volume of the breeding side in June may continue to increase month-on-month. The breeding side slaughters normally, and with the successive slaughter of previously secondarily fattened pigs, the slaughter weight remains high [6] Overall Situation - Overall, supply tends to increase, demand weakens again after the festival, and the supply and demand remain loose. The spot price of live pigs is mainly weak. Pay continued attention to the rhythm of secondary fattening in the later stage. Currently, all futures contracts are at a discount to the spot. Affected by the off-season of demand, loose supply and demand, and the expected slaughter of secondarily fattened pigs, they are mainly weak [6] Group 3: Industry News - According to Yongyi Information data, in the week of May 23, the average market sales price of 15kg piglets was 627 yuan/head, down 3 yuan/head from the previous week [9] - As of May 23, the average profit per self - bred and self - raised pig was 138 yuan/head, a week - on - week decrease of 31 yuan/head; the average profit per pig fattened with purchased piglets was 93 yuan/head, a week - on - week decrease of 25 yuan/head [9] Group 4: Data Overview Average Slaughter Weight - In the week of May 23, the national average slaughter weight was 129.38 kg, down 0.33 kg from the previous week, a week - on - week decline of 0.25%, a month - on - month increase of 0.34%, and a year - on - year increase of 2.91% [18] Slaughter Volume - In the week of May 23, the slaughter volume of the slaughter sample was 1.5964 million heads, 500 less than the previous week, a week - on - week decline of 0.03%; the average daily slaughter volume of the daily slaughter sample was 144,347 heads, 3194 less than the previous week, with an average daily decline of 2.16% [18] Breeding Cost - As of May 23, the expected cost of self - bred and self - raised pigs was 13.09 yuan/kg, remaining the same week - on - week. The cost of fattening pigs with purchased piglets was affected by both feed prices and piglet prices. The expected cost of fattening purchased piglets to 125 kg and then slaughtering was 15.06 yuan/kg, a week - on - week decrease of 0.03 yuan/kg [18]