Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-06 09:57Group 1: Report Industry Investment Rating - No information provided on the report industry investment rating Group 2: Core Viewpoints - Short - term prices are dominated by the slaughter rhythm, with repeated fluctuations. The current slaughter volume has recovered from a low level, and increased supply is pressuring the near - month prices to fluctuate slightly weaker. It is recommended to gradually take profits on short positions in the 2509 contract and wait and see [2] Group 3: Summary by Relevant Catalogs Futures Disk - The closing price of the futures main contract for live pigs is 14,010 yuan/ton, up 125 yuan; the main contract position is 58,972 lots, up 23,262 lots; the number of warehouse receipts is 380 lots, up 80 lots; the net long position of the top 20 futures holders is - 18,191 lots, up 2,462 lots [2] Spot Price - The live pig price in Henan Zhumadian is 14,000 yuan/ton, down 100 yuan; in Jilin Siping is 13,400 yuan/ton, unchanged; in Guangdong Yunfu is 15,500 yuan/ton, unchanged; the main live pig basis is - 10 yuan/ton, down 225 yuan [2] Upstream Situation - The live pig inventory is 42,4470,000 heads, up 7160,000 heads; the inventory of breeding sows is 4,0420,000 heads, up 40,000 heads [2] Industry Situation - The year - on - year CPI is 0.1%, up 0.2 percentage points; the spot price of soybean meal in Zhangjiagang is 2,920 yuan/ton, down 20 yuan; the spot price of corn is 2,395.1 yuan/ton, down 2.94 yuan; the Dalian Commodity Exchange pig feed cost index is 928.21, up 4.13; the monthly output of feed is 27,621,000 tons, up 981,000 tons; the price of binary breeding sows is 1,638 yuan/head, unchanged; the breeding profit of purchased piglets is - 116.78 yuan/head, down 45.39 yuan; the breeding profit of self - bred and self - raised live pigs is 43.85 yuan/head, down 18.31 yuan; the monthly import volume of pork is 90,000 tons, unchanged; the average price of white - striped chickens in the main production areas is 13.7 yuan/kg, unchanged [2] Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises is 32,160,000 heads, up 1,390,000 heads; the monthly retail sales of social consumer goods in the catering industry is 470.76 billion yuan, up 12.94 billion yuan [2] Industry News - On August 6, 2025, the daily national slaughter volume of key breeding enterprises was 255,760 heads, up 1.11% from the previous day; on Wednesday, the 2611 contract of live pigs closed up 0.68%. The supply side shows that the slaughter rhythm of the breeding side has accelerated, and the supply has increased. The demand side shows that the supply of live pigs is sufficient, the demand in some areas has recovered, the operating rate of slaughterhouses has rebounded slightly, but high temperatures still suppress people's willingness to buy pork, resulting in a limited rebound [2]