瑞达期货生猪产业日报-20260205

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - Due to fewer slaughter days in February, large - scale farms are reducing the weight of pigs for slaughter, and small and medium - sized farmers are more willing to sell. The supply pressure increases before the Spring Festival. On the demand side, transportation in the South has recovered, the slaughtering rate has rebounded, and pre - festival stocking is about to start, so demand is expected to increase. The Central Document No. 1 in 2026 proposed to "strengthen the comprehensive regulation of pig production capacity". Overall, the pre - festival market supply pressure is relatively large, which puts pressure on the spot price of pigs. However, the pre - festival stocking demand is expected to gradually increase, providing some support for the price. The supply - demand game intensifies, and the market price is expected to fluctuate slightly weaker. On the futures market, the pig 2605 contract closed down 0.09%, with technical adjustment and significant pressure from the upper moving average [2] 3. Summary According to Relevant Catalogs Futures Market - The closing price of the main futures contract for pigs was 11,685 yuan/ton, down 50 yuan; the main contract position was 144,469 lots, down 1,506 lots; the number of warehouse receipts was 647 lots, unchanged; the net long position of the top 20 futures holders was - 49,411 lots, up 910 lots [2] Spot Market - The pig price in Zhumadian, Henan was 12,300 yuan/ton, unchanged; in Siping, Jilin was 12,100 yuan/ton, unchanged; in Yunfu, Guangdong was 12,100 yuan/ton, down 200 yuan. The main basis of live pigs was 615 yuan/ton, up 50 yuan [2] Upstream Situation - The national pig inventory was 42,9670,000 heads, down 7130,000 heads; the national inventory of breeding sows was 3,9610,000 heads, down 290,000 heads. The year - on - year CPI was 0.8%, up 0.1 percentage points. The spot price of soybean meal in Zhangjiagang was 3,100 yuan/ton, unchanged; the spot price of corn was 2,368.82 yuan/ton, down 2.55 yuan; the Dalian Commodity Exchange pig feed cost index was 902.84, up 1.57. The monthly output of feed was 30,086,000 tons, up 307,000 tons. The price of binary breeding sows was 1,431 yuan/head, unchanged. The breeding profit of purchased piglets was 124.13 yuan/head, up 8.29 yuan; the breeding profit of self - bred and self - raised pigs was 25.1 yuan/head, down 18.25 yuan. The monthly import volume of pork was 60,000 tons, unchanged. The average price of white - striped chickens in the main producing areas was 13.7 yuan/kg, up 0.3 yuan [2] Downstream Situation - The slaughter volume of designated pig slaughtering enterprises was 4,8910,000 heads, up 9340,000 heads. The monthly retail sales of social consumer goods in the catering industry was 573.8 billion yuan, down 31.9 billion yuan [2] Industry News - According to the sample data of key breeding enterprises from Shanghai Ganglian, on February 5, 2026, the daily national pig slaughter volume of key breeding enterprises was 310,380 heads, an increase of 0.76% from the previous day [2]