生猪：屠宰、肥标及二育情绪共振

Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating. 2. Core View - The report provides a comprehensive analysis of the pig market, including price, trading volume, open interest, and spread data, as well as market information and trend strength [1][2][3]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Price Data: The Henan spot price is 11,730 yuan/ton with a year - on - year increase of 250 yuan/ton; the Sichuan spot price is 11,250 yuan/ton with a year - on - year increase of 200 yuan/ton; the Guangdong spot price is 11,460 yuan/ton with no year - on - year change. For futures, the prices of contracts 2511, 2601, and 2603 are 11,525 yuan/ton, 12,235 yuan/ton, and 11,615 yuan/ton respectively, with year - on - year increases of 115 yuan/ton, 80 yuan/ton, and 45 yuan/ton [1]. - Trading Volume and Open Interest: The trading volume of contract 2511 is 21,548 lots, a decrease of 14,382 lots from the previous day; the open interest is 21,941 lots, a decrease of 6,208 lots from the previous day. For contract 2601, the trading volume is 132,739 lots, a decrease of 16,289 lots from the previous day, and the open interest is 103,162 lots, an increase of 607 lots from the previous day. For contract 2603, the trading volume is 28,717 lots, a decrease of 2,267 lots from the previous day, and the open interest is 83,188 lots, an increase of 1,905 lots from the previous day [1]. - Spread Data: The basis of contract 2511 is 205 yuan/ton with a year - on - year increase of 135 yuan/ton; the basis of contract 2601 is - 505 yuan/ton with a year - on - year increase of 170 yuan/ton; the basis of contract 2603 is 115 yuan/ton with a year - on - year increase of 205 yuan/ton. The spread between contracts 11 - 1 is - 710 yuan/ton with a year - on - year increase of 35 yuan/ton, and the spread between contracts 1 - 3 is 620 yuan/ton with a year - on - year increase of 35 yuan/ton [1]. 3.2 Market Information - Yuexiu and Yangxiang have added delivery warehouses [2]. 3.3 Trend Strength - The trend strength is 0, indicating a neutral view. The trend strength ranges from - 2 (most bearish) to 2 (most bullish) [3].