农产品日报：需求仍显疲软，猪价维持震荡-20250911

Group 1: Report Industry Investment Rating - The investment strategy for both the pig and egg industries is cautiously bearish [3][6] Group 2: Core Viewpoints of the Report - In the short - term, the pattern of strong supply and weak demand in the pig market is difficult to change, but in the medium - to - long - term, attention should be paid to the reduction of production capacity and national policy changes. For the egg market, the large supply pressure makes the festival boost weak, and attention should be paid to the impact of cold - storage eggs entering the market on the spot market [2][5] Group 3: Summary by Related Catalogs Pig Market Market News and Key Data - Futures: The closing price of the live hog 2511 contract yesterday was 13,315 yuan/ton, up 85 yuan/ton or 0.64% from the previous trading day. Spot: In Henan, the price of external ternary live hogs was 13.48 yuan/kg, down 0.03 yuan/kg; in Jiangsu, it was 13.65 yuan/kg, down 0.11 yuan/kg; in Sichuan, it was 13.15 yuan/kg, down 0.11 yuan/kg. The national average wholesale price of pork in agricultural product markets on September 10 was 19.91 yuan/kg, up 0.3% [1] Market Analysis - The weight - reducing slaughter of group farms has weakened the festival boost this year. The pig production capacity has remained at around 40.5 million heads for about a year, and with the improvement of production efficiency, there is room for capacity reduction in the future [2] Egg Market Market News and Key Data - Futures: The closing price of the egg 2510 contract yesterday was 3019 yuan/500 kg, down 41 yuan or 1.34% from the previous trading day. Spot: In Liaoning, the egg price was 3.27 yuan/jin, unchanged; in Shandong, it was 3.55 yuan/jin, up 0.10 yuan; in Hebei, it was 3.11 yuan/jin, unchanged. On September 10, the national production - link inventory was 0.48 days, and the circulation - link inventory was 0.79 days, both unchanged from the previous day [3][4] Market Analysis - High - temperature weather in mid - and early August led to cautious purchasing. Egg prices rose slightly in late August due to downstream stocking for the start of school. In September, school demand recovered, but tourism and catering demand declined. Food - processing demand was strong in mid - and early September but weakened in late September. Overall demand decreased over time [5]