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生猪日报：供应压力继续好转，现货持续反弹-20251028
Yin He Qi Huo·2025-10-28 11:14

Group 1: Report Overview - The report is a daily report on the hog market dated October 28, 2025, titled "Hog Daily Report: Supply Pressure Continues to Improve, Spot Prices Keep Rebounding" [1] Group 2: Price Information Spot Prices - Today, hog spot prices across the country showed an overall upward trend. The average price was 12.36 yuan/kg, up 0.38 yuan/kg from yesterday. Prices in various regions all increased, with the largest increase of 0.43 yuan/kg in Guangxi and the smallest increase of 0.22 yuan/kg in Shaanxi [3] Futures Prices - Hog futures prices showed a downward trend. Contracts LH01, LH03, LH05, LH07, and LH09 all declined, while LH11 increased by 30. The LH9 - 1 spread increased by 95, and the LH11 - 1 spread increased by 200 [3] Piglet and Sow Prices - Piglet prices rose from 165 yuan last week to 174 yuan this week, an increase of 9 yuan. Sow prices remained unchanged at 1545 yuan [3] Spot Breeding Profits - The spot breeding profit for self - breeding and self - raising increased from - 244.70 yuan to - 185.68 yuan, an increase of 59.01 yuan. The profit for purchasing piglets increased from - 375.29 yuan to - 289.07 yuan, an increase of 86.22 yuan [3] Slaughter and Pig Weight Spreads - The slaughter volume decreased from 165,524 heads yesterday to 163,876 heads today, a decrease of 1,648 heads. The spread between standard pigs and medium - sized pigs increased by 0.04 yuan, while the spread between large pigs and standard pigs decreased by 0.08 yuan [3] Group 3: Core Views - The supply pressure in the hog market has improved, but due to the relatively high inventory and high slaughter weight, the overall supply pressure may still persist, and the subsequent spot prices are expected to be weak. The futures prices are expected to have limited upside space and will mainly fluctuate [3][4] Group 4: Trading Strategies - Unilateral trading: Hold a wait - and - see attitude - Arbitrage: Hold a wait - and - see attitude - Options: Adopt the strategy of selling a wide straddle [5]