生猪日报：供应压力仍存，价格阶段性回落-20250714

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - The supply pressure of live pigs still exists, and the spot price is likely to face difficulties in continuing to strengthen. The futures market is also affected by the weakening of the spot price and is expected to show a certain degree of decline. The price will be in a state where both upward and downward movements are restricted [2][4]. Group 3: Summary by Related Content Spot Information - Today's live pig spot prices generally declined. After the previous continuous price increase, the market's enthusiasm for selling pigs has recovered, but the overall price decline is limited. The short - term supply situation has improved, and the price increase momentum is restricted. The secondary fattening is mainly in a wait - and - see state, and the subsequent supply pressure is still expected to exist [2]. - The prices of piglets and sows remained unchanged at 439 and 1621 respectively. The self - breeding and self - raising profit was 133.87, an increase of 14.15 compared to the previous day, and the profit from purchasing piglets was 31.60, an increase of 57.86 compared to the previous day [2]. - The daily slaughter volume decreased by 2020 to 132,507 heads. The price difference between different sizes of pigs also changed, with the price difference between large pigs and standard pigs decreasing by 0.03 to 0.07 [2]. Futures Information - Today's live pig futures showed a fluctuating downward trend. After the previous rapid increase, the market's enthusiasm for further bullish sentiment has decreased, and the futures market has entered a high - level volatile state. The inter - month spread of the futures is expected to remain volatile due to the lack of obvious driving factors in the short term [2][4]. - Among the futures contracts, LH01 was 13,725, an increase of 20; LH03 was 12,990, an increase of 10; LH05 was 13,160, a decrease of 15; LH07 was 14,000, an increase of 50; LH09 was 14,285, a decrease of 60; LH11 was 13,605, a decrease of 40 [2]. Trading Strategies - Unilateral trading is expected to be mainly in a high - level volatile state - For arbitrage, conduct a long - short spread trade on the LH9 - 1 contract - For options, adopt a wait - and - see strategy [5]