农产品日报：需求难有提振，猪价震荡运行-20250605

Group 1: Report Industry Investment Ratings - Investment rating for the pig market: Cautiously bearish [3] - Investment rating for the egg market: Neutral [6] Group 2: Core Views of the Report - The pig market is in a seasonal consumption off - season, showing a pattern of strong supply and weak demand, with short - term lack of positive factors and long - term need to monitor hog slaughter, secondary fattening, and frozen product changes [2] - The egg market is also in a seasonal consumption off - season, and the short - term supply - demand pattern of oversupply is difficult to change [5] Group 3: Summary of Relevant Catalogs Pig Market Market News and Important Data - Futures: The closing price of the live hog 2509 contract yesterday was 13,490 yuan/ton, a change of - 20.00 yuan/ton from the previous trading day, a decrease of 0.15% [1] - Spot: In Henan, the price of outer three - yuan live hogs was 14.21 yuan/kg, a change of - 0.19 yuan/kg from the previous trading day; in Jiangsu, it was 14.50 yuan/kg, a change of - 0.10 yuan/kg; in Sichuan, it was 14.08 yuan/kg, a change of - 0.07 yuan/kg [1] - Agricultural product prices: On June 4, the "Agricultural Product Wholesale Price 200 Index" was 113.44, down 0.29 points from the previous day. The average wholesale price of pork was 20.75 yuan/kg, up 0.8% from the previous day; beef was 63.50 yuan/kg, down 0.6%; mutton was 59.08 yuan/kg, down 1.2%; eggs were 7.70 yuan/kg, up 1.2%; and white - striped chickens were 17.35 yuan/kg, up 0.8% [1] Market Analysis - The pig market is entering a seasonal consumption off - season. Rising temperatures and school holidays will affect rigid demand. Frozen product inventory is slowly being destocked, and there is little frozen product warehousing at current price levels. The market shows a pattern of strong supply and weak demand, with short - term lack of positive factors [2] Strategy - Cautiously bearish [3] Egg Market Market News and Important Data - Futures: The closing price of the egg 2507 contract yesterday was 2,877 yuan/500 kilograms, a change of - 20.00 yuan from the previous trading day, a decrease of 0.69% [3] - Spot: In Liaoning, the egg spot price was 2.78 yuan/jin, unchanged from the previous trading day; in Shandong, it was 2.90 yuan/jin, unchanged; in Hebei, it was 2.58 yuan/jin, unchanged [3] - Inventory: On June 4, the national production - link inventory was 1.00 days, an increase of 0.02 days from the previous trading day, and the circulation - link inventory was 1.39 days, an increase of 0.02 days [3] Market Analysis - After the Dragon Boat Festival, food company stocking ended, leading to a decline in egg prices. After the mid - and high - school entrance exams this month, school demand dropped significantly. During the plum - rain season in the South, high temperature and humidity caused frequent egg spoilage, and all links were more cautious in purchasing, mainly on a demand - based basis. The overall demand is weak, and the short - term supply - demand pattern of oversupply is difficult to change [4][5] Strategy - Neutral [6]