生猪、玉米周报：生猪市场区域表现分化，玉米关注前高附近压力-20260112

Report Summary 1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints - The supply - demand game in the pig market continues, and after a phased rebound, pig prices are expected to fluctuate and adjust. The corn market price is also in a state of oscillating adjustment, and the disk should maintain a short - term trading mindset [5][8] 3. Summary by Category Pig Market - Futures and Spot Prices: Last week, the pig futures rose first and then fell. The LH2603 contract closed at 11,770 yuan/ton, a 0.04% decrease from the previous week's settlement price. The national average price of live pigs of the outer ternary breed was 12.45 yuan/kg, a week - on - week increase of 0.21 yuan/ton [5] - Profit Situation: As of January 9, the self - breeding and self - raising pig farming profit was - 11.54 yuan/head, a week - on - week increase of 23.05 yuan/head; the profit from purchasing piglets for farming was - 2.31 yuan/head, a week - on - week increase of 46.04 yuan/head; the pig - grain ratio was 5.46, a week - on - week increase of 0.09 [5] - Regional Market Performance: The northern region saw a slowdown in the slaughter rhythm of enterprises at the beginning of the month, and leading group farms reduced supply and held prices, resulting in relatively strong pig prices. In the southern region, market supply did not decrease, and after the festival effect faded, demand support was weak, so pig prices were adjusted slightly downward [5] - Supply and Demand Outlook: Currently, there is no significant change in the supply side. Farmers' willingness to hold prices is strong, and local second - fattening is relatively active, reducing the supply of market - ready pigs. On the demand side, with the drop in temperature, terminal consumption has certain positive support. However, as the supply - demand pattern gradually turns to a looser state, pig prices are expected to fluctuate and adjust after a phased rebound [5] Corn Market - Futures and Spot Prices: Last week, corn futures fluctuated strongly. The C2603 contract closed at 2,263 yuan/ton, a 1.53% increase from the previous week's settlement price. The national average spot price of corn was 2,351.86 yuan/ton, a week - on - week decrease of 4.22 yuan/ton. Port prices generally showed an upward trend [6] - Deep - processing Consumption: From January 1 to January 7, 2026, 149 major corn deep - processing enterprises across the country consumed a total of 1.3817 million tons of corn, a week - on - week decrease of 0.0011 million tons. The processing volume of corn starch enterprises was 0.6279 million tons, a decrease of 0.0032 million tons from the previous week. The weekly national corn starch output was 0.3248 million tons, a decrease of 0.0027 million tons from the previous week, and the weekly operating rate was 59.37%, a decrease of 0.49% from the previous week. The operating rate of the DDGS industry decreased, and the production volume also decreased [7] - Inventory Situation: As of January 7, 2026, the total corn inventory of 96 major corn processing enterprises in 12 regions across the country was 3.54 million tons, with an increase rate of 1.32%. As of January 9, the total corn inventory of the four northern ports was about 1.56 million tons, and the corn inventory at Guangdong Port was 0.8 million tons [7] - Market Performance and Outlook: The national corn spot market rose first and then fell last week. In the Northeast region, there was still a phenomenon of farmers being reluctant to sell, and due to weather - affected transportation, the supply speed of grain sources slowed down, and market quotes were relatively strong. In the North China region, prices in some areas were adjusted downward. The overall operating rate of the industry declined slightly, and the operating rate of the alcohol industry continued to decline. The selling progress of corn in the Northeast region has exceeded 50%, and due to the expected shortage of high - quality corn supply, farmers' enthusiasm for selling is not high. The selling progress in the North China region is relatively slow, and downstream enterprises are more cautious in purchasing. The market price is oscillating and adjusting, and the disk has rebounded to the upper edge of the oscillation range, so a short - term trading mindset should be maintained [8]