Report Overview - Report Date: November 19, 2025 [1] - Report Type: Feed and Aquaculture Daily Report - Research Areas: Pig, Corn and Starch, Egg Pig Market Core View - Policy disturbances may affect the long - term supply of pigs. Strategically, a long - term bullish view can be taken, but in the short - to medium - term, fundamentals prevail. Recently, the second - fattening replenishment has weakened, and the near - term slaughter pressure persists, while the far - term is affected by expectations and shows a stronger trend [3] Price Information - Spot Prices: The national average spot price of pigs is 11.54 yuan, up 0.07 yuan (0.61%). Prices in different regions such as Henan, Hunan, etc., also show varying degrees of increase [4] - Futures Prices: The closing prices of different pig futures contracts show mixed trends. For example, the price of the Pig 01 contract is 11,560 yuan, up 25 yuan (0.22%), while the Pig 03 contract is 11,350 yuan, down 5 yuan (- 0.04%) [5] - Spreads and Basis: The spreads and basis of different pig futures contracts and between regions and contracts show significant fluctuations. For example, the LH01 - 03 spread is 180 yuan, down 45 yuan (- 20%) [10] Corn and Starch Market Core View - The spot market of corn was generally stable, with individual enterprises raising prices. After the recent continuous rebound of corn prices, the supply - side's reluctance to sell has eased, and the arrival volume in Shandong has increased. The downstream's willingness to purchase at high prices has decreased, and the price has entered a short - term balance. The futures market showed a slight correction. The starch market was stable, and the futures market followed the decline of corn and fell more than corn [14] Price Information - Futures Prices: The closing prices of different corn and corn starch futures contracts all showed increases. For example, the price of the Corn 01 contract is 2,175 yuan, up 7 yuan (0.32%), and the Corn Starch 01 contract is 2,480 yuan, up 13 yuan (0.53%) [15] - Spot and Basis: The spot prices of corn in different ports and the basis of corn and corn starch in different regions also showed certain changes. For example, the price of corn in Shekou Port is 2,370 yuan, up 10 yuan, and the basis of Jinzhou Port's main - continuous contract is 62 yuan, up 14 yuan [19] - Month - to - Month Spreads: The month - to - month spreads of corn and corn starch showed different trends. For example, the Corn 1 - 5 month - to - month spread is - 73 yuan, down 12 yuan [22] - US Corn: The prices of CBOT corn, soybeans, and wheat showed slight fluctuations. The US Gulf and West Coast's duty - paid prices decreased, and there were corresponding import profits [27] Egg Market Core View - In the long - term, the egg - laying hen production capacity is still in excess, and there is significant price pressure. In the short - term, due to the rapid decline of egg prices after the festival, some farmers have culled or molted hens. Overall, the production capacity is at a high level but is approaching an inflection point, and the general trend is still weak [30] Price Information - Futures Prices: The closing prices of different egg futures contracts showed mixed trends. The Egg 01 contract is 3,180 yuan, down 5 yuan (- 0.16%), and the Egg 09 contract is 3,872 yuan, up 13 yuan (0.34%) [31] - Spot Prices: The prices of eggs in the main production and sales areas, as well as different types of eggs, all showed declines. For example, the price of eggs in the main production areas is 2.86 yuan, down 0.02 yuan (- 0.69%) [32] - Spreads and Basis: The spreads and basis of different egg futures contracts and between the main production areas and the main contract showed significant fluctuations. For example, the Egg 1 - 5 spread is - 288 yuan, down 18 yuan (6.67%) [42]
饲料养殖日报-20251119
Dong Ya Qi Huo·2025-11-19 09:42