Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-07 09:49Report Industry Investment Rating - Not provided Core View - The supply of live pigs has increased as the slaughtering pace of the breeding end has accelerated, and the current demand remains weak, putting pressure on spot prices and dragging down the near - month prices to fluctuate weakly. Technically, due to the policy guidance on production capacity having a more obvious support for the far - month contracts and the expectation of improved future demand, the 2511 contract of live pigs performs stronger than the September contract, breaking through the 14,000 - yuan mark. It is recommended to wait and see for now [2] Summary by Relevant Catalogs Futures Market - The closing price of the main futures contract for live pigs is 14,100 yuan/ton, up 90 from the previous day; the position of the main contract is 59,598 lots, up 626; the number of warehouse receipts is 380 lots, unchanged; the net long position of the top 20 futures holders is - 18,400 lots, down 209 [2] Spot Market - The live pig prices in Henan Zhumadian, Jilin Siping, and Guangdong Yunfu are 13,900 yuan/ton, 13,200 yuan/ton, and 15,300 yuan/ton respectively, down 100, 200, and 200 yuan/ton respectively; the main basis of live pigs is - 200 yuan/ton, down 190 yuan/ton [2] Upstream Situation - The live pig inventory is 424.47 million heads, up 7.16 million; the inventory of reproductive sows is 40.42 million heads, up 40,000 [2] Industrial Situation - The year - on - year increase of CPI is 0.1%, up 0.2 percentage points; the spot price of soybean meal in Zhangjiagang is 2,920 yuan/ton, unchanged; the spot price of corn is 2,395.49 yuan/ton, up 0.39 yuan; the Dalian Commodity Exchange pig feed cost index is 931.86, up 3.65; the monthly output of feed is 27.621 million tons, up 981,000 tons; the price of binary reproductive 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 producing areas is 13.7 yuan/kg, unchanged [2] Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises is 32.16 million heads, up 1.39 million; 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 - According to the sample data of key breeding enterprises from Shanghai Ganglian, the daily national live pig slaughter volume of key breeding enterprises on August 7, 2025, was 259,880 heads, up 1.61% from the previous day. On Thursday, the 2611 contract of live pigs closed up 0.82% [2]