利多驱动增加，盘面大幅上涨

Group 1: Report Overview - Report title: "Pig Daily Report - July 23, 2025" [2] - Researcher: Chen Jiezheng [3] - Report type: Agricultural product R & D report from the Commodity Research Institute [1] Group 2: Investment Rating - No investment rating provided in the report Group 3: Core Views - The spot price of live pigs continued to decline today, and the supply tension has improved. The subsequent supply pressure still exists, and the upward space of the spot price is limited [4][6] - The futures price of live pigs rose sharply today due to market rumors. However, due to the existing inventory and production pressure, the upward space of the price is relatively limited [6] Group 4: Spot Price Summary - The average spot price of live pigs today was 13.44 yuan/kg, down 0.1 yuan/kg from yesterday [4] - Spot prices in various regions showed a downward trend, with Guangdong falling the most, by 0.2 yuan/kg [4] Group 5: Futures Price Summary - Futures prices of most contracts rose, with LH01 rising 350 yuan to 14,640 yuan [4] - Contract spreads changed significantly, such as LH7 - 9 widening by 210 yuan to - 580 yuan [4] Group 6: Other Price Summary - Piglet and sow prices remained unchanged this week at 440 yuan and 1,628 yuan respectively [4] - The self - breeding and self - raising profit was 90.89 yuan/head, down 42.99 yuan from yesterday; the profit of purchasing piglets was - 18.66 yuan/head, down 50.26 yuan from yesterday [4] Group 7: Slaughter and Size Spread Summary - The slaughter volume was 133,568 heads, down 37 heads from yesterday [4] - The spread between large and standard pigs widened by 0.03 yuan to 0.1 yuan [4] Group 8: Trading Strategy - Unilateral trading: Wait and see - Arbitrage: Wait and see - Options: Wait and see [7]