Group 1: Report Industry Investment Rating - Investment rating for both the pig and egg markets: Cautiously bearish [3][5] Group 2: Report's Core View - For the pig market, the short - term supply - demand pattern is characterized by strong supply and weak demand due to the reduced weight - based slaughter of group factories during the festival. In the long - term, attention should be paid to the culling of sows and policy changes [2] - For the egg market, the short - term consumption demand is strong due to the double festivals, but the impact of cold - stored eggs entering the market should be monitored [4] Group 3: Summary by Related Catalogs Pig Market Market News and Key Data - Futures: The closing price of the live pig 2511 contract was 12,830 yuan/ton, a change of - 170 yuan/ton (- 1.31%) from the previous trading day [1] - Spot: In Henan, the price of outer ternary live pigs was 12.88 yuan/kg (- 0.06 yuan/kg); in Jiangsu, it was 13.10 yuan/kg (- 0.11 yuan/kg); in Sichuan, it was 12.56 yuan/kg (- 0.10 yuan/kg) [1] - Agricultural product wholesale prices: On September 18, the "Agricultural Product Wholesale Price 200 Index" rose 0.03 points, and the "Vegetable Basket" product wholesale price index rose 0.04 points. The average wholesale price of pork was 19.55 yuan/kg (- 0.9%); beef was 65.97 yuan/kg (+ 1.1%); mutton was 61.09 yuan/kg (+ 0.5%); eggs were 8.40 yuan/kg (+ 1.6%); white - striped chickens were 17.55 yuan/kg (+ 1.0%) [1] Market Analysis - The short - term supply - demand pattern is difficult to change, but long - term attention should be paid to the culling of sows and policy changes [2] Strategy - Cautiously bearish [3] Egg Market Market News and Key Data - Futures: The closing price of the egg 2511 contract was 3,132 yuan/500 kilograms, a change of + 16 yuan (+ 0.51%) from the previous trading day [3] - Spot: In Liaoning, the egg price was 3.53 yuan/jin (- 0.07); in Shandong, it was 3.85 yuan/jin (unchanged); in Hebei, it was 3.42 yuan/jin (- 0.11) [3] - Inventory: On September 18, 2025, the production - link inventory was 0.5 days (unchanged), and the circulation - link inventory was 0.97 days, an increase of 0.23 days (31.08%) [3] Market Analysis - After the egg price increase, the terminal consumption and sales are smooth, and the overall demand is still strong due to the festival. However, attention should be paid to the impact of cold - stored eggs entering the market [4] Strategy - Cautiously bearish [5]
农产品日报：需求仍显疲软，猪价持续偏弱-20250919
Hua Tai Qi Huo·2025-09-19 02:57