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供应整体稳定,现货震荡运行
Yin He Qi Huo·2025-11-20 10:02

Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Core Viewpoints of the Report - The overall supply of live pigs is stable, and the spot price is fluctuating. The supply pressure still exists, and the subsequent spot price of live pigs is expected to be weak. The futures price has also shown a downward trend, and the medium - and long - term downward pressure is obvious [1][3]. - The recent slowdown in the slaughter rhythm has supported the pig price to some extent, but due to the high inventory and large slaughter weight, the supply pressure will still be reflected in the future [1]. Group 3: Summary of Specific Contents Spot Price - Today, the live pig prices across the country continued to fluctuate. The average price was 11.42 yuan/kg, up 0.13 yuan/kg from yesterday. The prices in different regions showed different changes, with some rising and some falling [1]. Futures Price - The live pig futures prices showed a downward trend. For example, LH01 was 11,440 yuan, down 120 yuan from yesterday; LH03 was 11,315 yuan, down 35 yuan from yesterday [1]. Piglet and Sow Prices - The piglet price was 209 yuan this week, the same as last week; the sow price was 1,546 yuan, also unchanged from last week [1]. Contract Spreads - The spreads between different contracts showed different changes. For example, LH7 - 9 was - 800 yuan, up 5 yuan from yesterday; LH9 - 1 was 2,000 yuan, up 50 yuan from yesterday [1]. Slaughter Volume - The slaughter volume was 171,117 heads today, an increase of 1,928 heads from yesterday [1]. Size Pig Price Spreads - The spreads between different - sized pigs showed different changes. The spread between standard pigs and medium - sized pigs was 0.39 yuan, up 0.03 yuan from yesterday; the spread between large pigs and medium - sized pigs was 0.4 yuan, down 0.01 yuan from yesterday [1]. Trading Strategies - For unilateral trading, it is recommended to wait and see; for arbitrage, it is also recommended to wait and see; for options, a strategy of selling wide - straddles is recommended [4].