生猪日报：供应压力减少，现货偏强运行-20260119

Group 1: Report Overview - The report is a daily research on the hog market on January 19, 2026, with the title "Supply Pressure Reduces, Spot Runs Strongly" [1] Group 2: Industry Investment Rating - Not provided Group 3: Core Viewpoints - Spot hog prices across the country are running strongly, but considering the high inventory and large出栏 weight, the subsequent supply pressure may continue to show, and the spot price is expected to decline in the long - term [3][5] - Hog futures prices continued to decline today, affected by recent data and the full reflection of positive factors in previous price increases. The futures price may face downward pressure after the current round of increase stabilizes [5] Group 4: Price and Profit Data Spot Prices - The average spot price of hogs today is 13.03 yuan/kg, up 0.4 yuan/kg from yesterday. Prices in various regions have increased, with the largest increase of 1 yuan/kg in Guangdong [3] Futures Prices - Futures prices of most contracts declined, such as LH03 down 275 yuan, LH05 down 210 yuan [3] Piglet and Sow Prices - Piglet prices are 330 yuan, up 23 yuan from last week; sow prices remain unchanged at 1557 yuan [3] Breeding Profits - The spot breeding profit of self - breeding and self - raising is 7.39 yuan, up 18.93 yuan; the profit of purchasing piglets is 48.35 yuan, up 50.66 yuan [3] Contract Spreads - For example, LH7 - 9 is - 825, up 75 from yesterday; LH9 - 1 is 1290, down 270 from yesterday [3] Slaughter and Size Pig Spreads - The slaughter volume is 191,453 heads, down 927 from yesterday. The large - to - standard pig spread is 0.7, up 0.21 from yesterday [3] Group 5: Trading Strategies - Unilateral: Adopt a bearish mindset [6] - Arbitrage: Wait and see [6] - Options: Sell a wide - straddle strategy [6]