饲料养殖日报-20251202

Report Overview - The report is a Feed and Livestock Daily, covering the markets of pigs, corn & starch, and eggs on December 2, 2025 [1] Pig Market Core View - Policy disturbances may affect long - term pig supply. Long - term strategy is bullish, but short - to - medium - term is still based on fundamentals. Recent second - fattening purchases have weakened, near - month supply pressure persists, while far - month prices are bullish due to expectations [3] Price Information - Spot Prices: The national average spot price is 11.32 yuan, down 0.06 yuan (-0.53%). Prices vary in different regions, with Guangdong up 1.63% and Henan down 1.66% [4] - Futures Prices: For example, the closing price of Live Pig 01 is 11455 yuan, down 40 yuan (-0.35%), while Live Pig 03 is up 0.45% [5] - Spreads and Basis: The spread of LH01 - 03 is 290 yuan, up 75 yuan (34.88%) [10] Corn & Starch Market Core View - National prices continue to rise slightly. Ports and Northeast production areas are up, while high arrivals in Shandong suppress the increase. Spot trading is good. Futures are consolidating after a continuous rally, with some long - liquidation, but the trend is still bullish in the medium - term [14] Price Information - Futures Prices: Corn 01 closes at 2243 yuan, up 7 yuan (0.31%); Corn Starch 05 is down 0.34% [15][16] - Spot and Basis: For example, the price at Jinzhou Port is 2295 yuan, up 10 yuan, and the basis of Jinzhou Port's main - continuous contract is 49 yuan, up 18 yuan [20] - Monthly Spreads: The corn 1 - 5 monthly spread is -37 yuan, down 5 yuan [23] - US Corn: CBOT Corn Main - continuous is down 0.61%, and the import profit of US Gulf is 288.14 yuan [28] Egg Market Core View - Long - term egg - laying hen capacity is still in surplus, putting pressure on prices. Short - term, due to a rapid post - holiday price drop, some farmers are culling or molting hens. Overall, capacity is at a high but approaching a turning point, with a generally bearish long - term trend [30] Price Information - Futures Prices: Egg 05 closes at 3652 yuan, up 59 yuan (1.64%), while Egg 09 is down 0.48% [31] - Spot Prices: The price of main - producing area eggs is 3.09 yuan, unchanged [32] - Spreads and Basis: The spread of Egg 1 - 5 is -392 yuan, down 77 yuan (24.44%) [43]