瑞达期货生猪产业日报-20251223

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core View - The supply - demand game in the pig industry continues, and pig prices mainly show a volatile trend. The 2603 contract of live pigs closed up 0.71%, with short - term moving averages extending horizontally and overall fluctuating at a low level [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main futures contract for live pigs was 11,415 yuan/ton, up 70 yuan; the main contract position was 161,853 lots, up 326 lots; the number of warehouse receipts was 863 lots, up 40 lots; the net long position of the top 20 futures positions was - 46,238 lots, up 292 lots [2]. 3.2 Spot Market - The spot prices of live pigs in Henan Zhumadian, Guangdong Yunfu remained unchanged at 11,600 yuan/ton and 12,000 yuan/ton respectively, while the price in Jilin Siping increased by 100 yuan to 11,100 yuan/ton. The main basis of live pigs was 185 yuan/ton, down 70 yuan [2]. 3.3 Upstream Situation - Pig inventory was 43.68 million heads, up 1.233 million heads; the inventory of breeding sows was 3.99 million heads, down 45,000 heads [2]. 3.4 Industry Situation - The year - on - year CPI was 0.7%, up 0.5 percentage points; the spot price of soybean meal in Zhangjiagang was 3,100 yuan/ton, unchanged; the spot price of corn was 2,342.94 yuan/ton, down 4.71 yuan; the Dalian Commodity Exchange pig feed cost index was 880.94, down 0.54; the monthly output of feed was 29.779 million tons, up 209,000 tons; the price of二元能繁母猪 was 1,432 yuan/head, down 5 yuan; the breeding profit of purchased piglets was - 189.5 yuan/head, up 51.19 yuan; the breeding profit of self - bred and self - raised pigs was - 130.88 yuan/head, up 32.46 yuan; the monthly import volume of pork was 60,000 tons, down 10,000 tons; the average price of white - striped chickens in the main producing areas was 14.1 yuan/kg, up 0.2 yuan [2]. 3.5 Downstream Situation - The slaughter volume of designated pig slaughtering enterprises was 3.834 million heads, up 250,000 heads; the monthly retail sales of social consumer goods in the catering industry was 605.7 billion yuan, up 85.8 billion yuan [2]. 3.6 Industry News - On December 23, 2025, the daily national pig slaughter volume of key breeding enterprises was 284,472 heads, a decrease of 2.72% from the previous day. Large - scale farms were slaughtering normally, and due to the impact of the epidemic, some areas actively slaughtered standard pigs, increasing the overall supply. On the demand side, curing and sausage - making activities were underway, but after the Winter Solstice stocking ended, demand declined slightly [2].