Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-09-29 08:42Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core View of the Report - The supply of live pigs is abundant, while the demand growth is limited. The supply - demand pattern remains loose, suppressing the live pig price. The live pig 2511 contract has accelerated its decline, hitting the lowest level since 2022 and maintaining a weak pattern. Attention should be paid to pre - holiday positions [2] Group 3: Summary by Related Catalogs Futures Market - The closing price of the main futures contract for live pigs is 12,295 yuan/ton, down 280 yuan; the main contract position is 75,453 lots, down 9,566 lots; the number of warehouse receipts is 0 lots, down 298 lots; the net long position of the top 20 futures holders is - 28,957 lots, down 582 lots [2] Spot Market - The live pig price in Henan Zhumadian is 12,600 yuan/ton, unchanged; in Jilin Siping is 12,200 yuan/ton, down 100 yuan; in Guangdong Yunfu is 12,700 yuan/ton, down 200 yuan. The main live pig basis is 305 yuan/ton, up 280 yuan [2] Upstream Situation - The live pig inventory is 42,4470,000 heads, an increase of 7160,000 heads; the inventory of breeding sows is 4,0380,000 heads, a decrease of 40,000 heads. The CPI year - on - year is - 0.4%, down 0.4 percentage points. The spot price of soybean meal in Zhangjiagang is 2,940 yuan/ton, unchanged; the spot price of corn is 2,369.61 yuan/ton, up 1.57 yuan. The DCE pig feed cost index is 888.38, down 5.93. The monthly output of feed is 29,272,000 tons, an increase of 999,000 tons. The price of binary breeding sows is 1,548 yuan/head, down 77 yuan. The breeding profit of purchased piglets is - 236.57 yuan/head, down 37.26 yuan; the breeding profit of self - bred and self - raised live pigs is - 74.11 yuan/head, down 49.67 yuan. The monthly import volume of pork is 80,000 tons, a decrease of 10,000 tons. The average price of white - striped chicken in the main producing areas is 14.4 yuan/kg, up 0.1 yuan [2] Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises is 33,500,000 heads, an increase of 1,840,000 heads. The monthly retail sales of social consumer goods in the catering industry is 449.57 billion yuan, down 8.4 billion yuan [2] Industry News - On September 29, 2025, the daily national live pig出栏 volume of key breeding enterprises was 288,940 heads, a decrease of 0.62% from the previous day. The supply side has pressure as large - scale farms continue to sell and small - scale farmers are also actively selling large pigs. The demand side has marginal improvement with cooler temperatures, falling prices and approaching holidays, but the overall growth is less than the supply side [2]