Report Information - Report Name: Pig Daily Report [1] - Date: October 30, 2025 [2] Industry Investment Rating - Not provided Core Viewpoints - In the long - term, pig slaughter is expected to increase slightly until the first half of next year. In the short - term, the supply pressure in October is large, but the pressure on large - scale farms has eased to some extent. The demand for second - round fattening has decreased, and the terminal consumption has increased but lacks sustainable growth. The spot price rebounds but has limited upside, while the futures price may face double supply pressure before the Spring Festival [7] Summary by Directory 1. Market Review and Operation Suggestions - Market Conditions: On the 29th, the main 2601 futures contract of live pigs opened slightly lower, then rebounded and closed up. The highest was 12,210 yuan/ton, the lowest was 12,100 yuan/ton, and the closing price was 12,185 yuan/ton, down 0.49% from the previous day. The total index positions increased by 9,381 lots to 317,513 lots. The national average price of foreign ternary pigs was 12.60 yuan/kg, up 0.09 yuan/kg from the previous day [6] - Analysis: Supply - the long - term supply is expected to increase slightly, and the supply in October is large. However, the pressure on large - scale farms has eased, and farmers are reluctant to sell. Demand - second - round fattening has turned to a wait - and - see attitude, terminal consumption has increased but lacks sustainable growth, and the slaughter volume has decreased. The spot price rebounds but has limited upside, and the futures price may face double supply pressure before the Spring Festival [7] 2. Industry News - Not provided 3. Data Overview - Profit: As of October 23, the average profit per self - bred and self - raised pig was - 138 yuan/head, a week - on - week increase of 50.4 yuan/head; the average profit per pig purchased with piglets was - 378.6 yuan/head, a week - on - week increase of 53.6 yuan/head [12] - Price: The average market sales price of 15 - kg piglets in the week of October 23 was 255 yuan/head, 10 yuan/head lower than the previous week. The price difference between 175 - kg fat pigs and standard pigs was 0.69 yuan/jin, a week - on - week increase of 0.09 yuan/jin [12] - Cost: The cost of fattening a 110 - kg pig to 140 kg was 12.02 yuan/kg, an increase of 0.39 yuan/kg from the previous week; the cost of fattening a 125 - kg pig to 150 kg was 12.38 yuan/kg, an increase of 0.43 yuan/kg from the previous week [12] - Average Slaughter Weight: As of the week of October 23, the average slaughter weight of national live pigs was 127.90 kg, a week - on - week decrease of 0.35 kg (a decline of 0.27%), a month - on - month decrease of 0.65 kg (a decline of 0.51%), and a year - on - year increase of 1.83 kg (an increase of 1.45%) [12] - Utilization Rate of Fattening Pens: As of mid - October, the utilization rate of fattening pens was 44.8%, a ten - day increase of 12.5 percentage points and a year - on - year decrease of 10 percentage points [12]
建信期货生猪日报-20251030
Jian Xin Qi Huo·2025-10-30 01:59