瑞达期货生猪产业日报-20260224

Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - The pig market shows a pattern of strong supply and weak demand, and it is expected that the post - holiday price will mainly fluctuate weakly. The main pig 2605 contract on the futures market gapped lower, with a decline of more than 2.21%, hitting a low of 11,230 yuan/ton. Attention should be paid to second - round fattening, slaughter, and the rhythm of hog sales [2] Group 3: Summary by Relevant Catalogs Futures Disk - The closing price of the main futures contract for live pigs is 11,265 yuan/ton, a decrease of 235 yuan; the main contract position is 152,533 lots, an increase of 15,873 lots; the number of warehouse receipts is 1,156 lots, an increase of 129 lots; the net long position of the top 20 futures holders is - 46,304 lots, an increase of 723 lots [2] Spot Price - The live pig price in Henan Zhumadian is 11,000 yuan/ton, a decrease of 1,400 yuan; in Jilin Siping, it is 10,500 yuan/ton, a decrease of 1,000 yuan; in Guangdong Yunfu, it is 11,500 yuan/ton, a decrease of 400 yuan. The main basis of live pigs is - 265 yuan/ton, a decrease of 1,165 yuan [2] Upstream Situation - The national live pig inventory is 42,9670,000 heads, a decrease of 7130,000 heads; the national breeding sow inventory is 3,9610,000 heads, a decrease of 290,000 heads [2] Industry Situation - The year - on - year increase of CPI is 0.2%, a decrease of 0.6 percentage points; the spot price of soybean meal in Zhangjiagang is 3,080 yuan/ton, unchanged; the spot price of corn is 2,375.29 yuan/ton, an increase of 3.13 yuan; the Dalian Commodity Exchange pig feed cost index is 926.1, an increase of 1.88; the monthly output of feed is 30,086,000 tons, an increase of 307,000 tons; the price of binary breeding sows is 1,429 yuan/head, a decrease of 2 yuan; the breeding profit of purchased piglets is 53.1 yuan/head, a decrease of 38.32 yuan; the breeding profit of self - bred and self - raised live pigs is - 98.32 yuan/head, a decrease of 60.23 yuan; the monthly import volume of pork is 60,000 tons, unchanged; the average price of white - striped chickens in the main producing areas is 14 yuan/kg, unchanged [2] Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises is 4,8910,000 heads, an increase of 9340,000 heads; the monthly retail sales of social consumer goods in the catering industry is 573.8 billion yuan, a decrease of 31.9 billion yuan [2] Industry News - In January 2026, 4.7513 million live pigs were slaughtered in 244 live pig slaughtering enterprises in Guangdong Province, a month - on - month decrease of 2.25%, ending three consecutive months of month - on - month growth, and a year - on - year increase of 21.54%, with 12 consecutive months of year - on - year growth. During the Spring Festival, the spot price of live pigs declined. From the fourth and fifth days of the lunar new year, the breeding side gradually resumed hog sales. Currently, the market demand is still in the stage of consuming pre - holiday stocks, the slaughter volume is at a low level, and the overall demand has entered the off - season after the festival [2]