生猪日报：出栏压力增加，现货继续下行-20260129

Group 1: Report Overview - Report Title: "Livestock Daily Report - Pig Market" - Report Date: January 29, 2026 - Research Institute: Galaxy Futures Research Institute [1][6] Group 2: Investment Rating - No investment rating provided for the industry in the report Group 3: Core Views - The overall pressure on pig supply continues to increase, with large-scale enterprises, ordinary farmers, and secondary fattening all showing an increase in the number of pigs for sale, leading to a downward trend in pig prices [3][4] - The current high pig inventory and large average weight of pigs for sale indicate that the supply pressure will persist, and the overall trend of the pig market is expected to be downward [4] - Pig futures prices are also facing downward pressure due to continued weakness in the spot market and expected future supply pressure [4] Group 4: Market Data Summary Spot Prices - Today, pig prices across the country showed a downward trend, with the average price dropping from 12.56 yuan/kg yesterday to 12.30 yuan/kg today [3] - All regions experienced price declines, with the largest drop in Guangdong at 0.4 yuan/kg [3] Futures Prices - Most pig futures contracts showed a downward trend today, with LH03, LH05, LH07, LH09, and LH11 all declining, while only LH01 increased slightly by 45 points [3] Sow and Piglet Prices - Piglet prices increased from 353 yuan last week to 367 yuan this week, while sow prices remained unchanged at 1557 yuan [3] Breeding Profits - The profit from self - breeding and self - raising increased from 7.39 yuan/head yesterday to 43.35 yuan/head today, and the profit from purchasing piglets for fattening increased from 48.35 yuan/head to 115.84 yuan/head [3] Slaughter Data - The daily slaughter volume decreased from 188,439 heads yesterday to 185,256 heads today, a decrease of 3183 heads [3] Price Spreads - The price spreads between different sizes of pigs increased, indicating a change in the supply and demand relationship of different - sized pig sources [3] Group 5: Trading Strategies - Unilateral trading: Hold a wait - and - see attitude - Arbitrage trading: Hold a wait - and - see attitude - Options trading: Sell a wide - straddle strategy [5]