市场供应充足，猪价震荡运行

Group 1: Report Industry Investment Rating - Investment rating for the pig and egg markets is cautiously bearish [3][6] Group 2: Core Views of the Report - For the pig market, supply pressure is expected to decrease in the future, and there is an obvious expectation of improvement in the consumer side, but the impact may be limited. Price support mainly relies on the short - term supply gap created by the increase in secondary fattening. The current overall supply - demand pattern remains unchanged, with short - term demand boosts having an impact and the long - term pattern difficult to change [2] - For the egg market, it has entered the pre - Mid - Autumn Festival stocking period, and demand has improved. However, due to the continuous increase in the number of laying hens in production and the release of cold - stored eggs, supply is in excess, suppressing egg prices, and the short - term pattern is difficult to change [4][5] Group 3: Summary by Related Catalogs Pig Market Market News and Important Data - Futures: The closing price of the live hog 2509 contract yesterday was 13,860 yuan/ton, a change of - 50.00 yuan/ton (- 0.36%) from the previous trading day. Spot: In Henan, the price of outer ternary live hogs was 13.48 yuan/kg, a change of - 0.19 yuan/kg; in Jiangsu, it was 13.69 yuan/kg, a change of - 0.08 yuan/kg; in Sichuan, it was 13.53 yuan/kg, a change of - 0.12 yuan/kg. The national average wholesale price of pork on August 26 was 20.01 yuan/kg, a decrease of 0.5% from the previous day [1] Market Analysis - Supply pressure is expected to decrease in the future, and demand improvement is expected, but the impact is limited. Price support depends on secondary fattening. Policy - based purchasing and storage this week had little impact on the market, and the overall supply - demand pattern remains unchanged [2] Strategy - Cautiously bearish [3] Egg Market Market News and Important Data - Futures: The closing price of the egg 2509 contract yesterday was 3013 yuan/500 kilograms, a change of - 8.00 yuan (- 0.26%) from the previous trading day. Spot: In Liaoning, the egg price was 3.20 yuan/jin, a change of + 0.11; in Shandong, it was 3.25 yuan/jin, unchanged; in Hebei, it was 2.73 yuan/jin, a change of + 0.04. On August 26, the production - link inventory was 0.87 days, a decrease of 0.05 days (- 5.43%) from the previous day, and the circulation - link inventory was 1.03 days, a decrease of 0.05 days (- 4.63%) [3] Market Analysis - Entering the pre - Mid - Autumn Festival stocking period, demand has improved. However, due to the continuous increase in the number of laying hens in production and the release of cold - stored eggs, supply is in excess, suppressing egg prices, and the short - term pattern is difficult to change [4][5] Strategy - Cautiously bearish [6]