农产品日报：需求渐有起色，猪价震荡运行-20251030

Group 1: Report Industry Investment Ratings - Investment rating for the pig industry: Cautiously bearish [3] - Investment rating for the egg industry: Cautiously bearish [6] Group 2: Core Views of the Report - For the pig industry, the current secondary fattening sentiment is still strong, but it doesn't change the total market supply and will increase future supply. The short - term pig price is firm, but the medium - and long - term supply - demand pattern remains unchanged with large future出栏 pressure [2] - For the egg industry, the overall demand is weak. Although egg sales have accelerated this week, it's short - lived. There is inventory accumulation in production areas, and the supply - strong and demand - weak pattern is hard to change in the short term [5][6] Group 3: Summary by Related Catalogs Pig Market Market News and Important Data - Futures: The closing price of the live pig 2601 contract was 12,185 yuan/ton yesterday, up 25 yuan/ton (+0.21%) from the previous trading day [1] - Spot: In Henan, the price of external ternary live pigs was 12.63 yuan/kg, down 0.04 yuan/kg; in Jiangsu, it was 12.76 yuan/kg, down 0.07 yuan/kg; in Sichuan, it was 12.33 yuan/kg, up 0.10 yuan/kg [1] - Agricultural product prices: On October 29, the "Agricultural Product Wholesale Price 200 Index" was 124.30, up 0.48 points; the "Vegetable Basket" product wholesale price index was 126.16, up 0.57 points. The average wholesale price of pork was 18.03 yuan/kg (unchanged), beef was 66.29 yuan/kg (down 0.5%), mutton was 62.35 yuan/kg (down 0.2%), eggs were 7.37 yuan/kg (down 0.3%), and white - striped chickens were 17.41 yuan/kg (down 1.6%) [1] Market Analysis - Secondary fattening is mainly undertaken by retail investors who prefer large fat pigs, leading to a prominent problem of postponed pig supply. The short - term price is firm, but the medium - and long - term supply - demand pattern remains unchanged [2] Strategy - Cautiously bearish [3] Egg Market Market News and Important Data - Futures: The closing price of the egg 2512 contract was 3,165 yuan/500 kilograms yesterday, up 66 yuan (+2.13%) from the previous trading day [3] - Spot: In Liaoning, the egg spot price was 2.89 yuan/jin (unchanged); in Shandong, it was 2.85 yuan/jin, down 0.10 yuan; in Hebei, it was 2.67 yuan/jin (unchanged) [3] - Inventory: On October 29, 2025, the national production - link inventory was 1.11 days (unchanged), and the circulation - link inventory was 1.18 days (unchanged) [4] Market Analysis - The overall demand is weak. Egg sales have accelerated briefly, but the supply - strong and demand - weak pattern persists. There is inventory accumulation in production areas, and the market is mainly focused on digesting previous inventory [5] Strategy - Cautiously bearish, as the number of laying hens in production remains high and the supply - strong and demand - weak pattern is hard to change in the short term [6]