生猪日报：供应阶段性好转，价格略有回落-20250707

Report Summary 1. Report Industry Investment Rating Not provided 2. Core Viewpoints - The overall price of live pigs decreased today. After the previous continuous price increase, market supply increased, and the price showed a downward trend. Although the recent supply pressure has decreased, as the price rises, the supply has improved, and the upward momentum of the price is limited. Secondary fattening is currently on the sidelines, and there is still supply pressure in the future, so it is difficult for the spot price to continue to strengthen [4]. - The live pig futures showed a volatile downward trend today. After the previous rapid increase in the futures price, market optimism decreased, and the futures price showed a phased decline. As the subsequent spot price is expected to weaken, the futures price is also expected to be affected. In terms of the price spread between futures contracts, the market lacks obvious driving factors in the short - term and is expected to operate in a volatile manner [7]. 3. Summary by Directory 3.1 Price Data - Spot Price: The average price of live pigs today was 14.24 yuan/kg, a decrease of 0.63 yuan/kg from yesterday. The prices in various regions all decreased, with the largest decrease in Hunan (-0.99 yuan/kg) and the smallest in Heilongjiang (-0.07 yuan/kg) [4]. - Futures Price: Among the futures contracts, LH07 increased by 220 yuan to 14070 yuan, LH03 increased by 20 yuan to 12995 yuan, and LH05 increased by 55 yuan to 13185 yuan. LH09 decreased by 60 yuan to 14245 yuan, and LH11 decreased by 35 yuan to 13685 yuan [4]. - Piglet and Sow Prices: The price of piglets was 431 yuan, and the price of sows was 1621 yuan, both remaining unchanged from last week [4]. - Breeding Profit: The spot breeding profit for self - breeding and self - raising was 119.72 yuan, an increase of 69.48 yuan; the profit for purchasing piglets was - 26.26 yuan, an increase of 105.45 yuan [4]. - Slaughter Volume: The slaughter volume was 130828 heads, a decrease of 585 heads from yesterday [4]. - Price Spread: The price spread between different - sized pigs changed. For example, the spread between standard pigs and medium - sized pigs decreased by 0.03 yuan, while the spread between large pigs and standard pigs increased by 0.09 yuan. Among the futures contracts, the spread of LH7 - 9 increased by 280 yuan, and the spread of LH9 - 1 decreased by 75 yuan [4]. 3.2 Trading Strategies - Single - sided Trading: It is mainly expected to operate in a high - level volatile manner. - Arbitrage: Long LH09 and short LH01. - Options: Stay on the sidelines [8]