瑞达期货生猪产业日报-20260226

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - The market shows a pattern of strong supply and weak demand, with the spot price of live pigs mainly undergoing weak adjustments. The main 2605 contract on the futures market closed down 0.13%, showing pressure at the 10 - day moving average. After repairing the deviation from the short - term moving average, it shows insufficient rebound momentum and overall oscillates [2]. 3. Summary by Relevant Catalogs Futures Disk - The closing price of the main futures contract for live pigs is 11,395 yuan/ton, down 70 yuan; the main contract position is 154,348 lots, down 119 lots; the number of warehouse receipts is 1,156 lots, unchanged; the net long position of the top 20 futures holders is - 42,551 lots, up 3,909 lots [2]. Spot Price - The live pig price in Henan Zhumadian is 11,000 yuan/ton, unchanged; in Jilin Siping is 10,300 yuan/ton, up 100 yuan; in Guangdong Yunfu is 11,200 yuan/ton, unchanged. The main basis of live pigs is - 395 yuan/ton, up 70 yuan [2]. Upstream Situation - The national live pig inventory is 42,9670,000 heads, down 7130,000 heads; the national breeding sow inventory is 3,9610,000 heads, down 290,000 heads [2]. Industry Situation - The year - on - year CPI is 0.2%, down 0.6 percentage points; the spot price of soybean meal in Zhangjiagang is 3,100 yuan/ton, unchanged; the spot price of corn is 2,380.98 yuan/ton, up 1.18 yuan; the Dalian Commodity Exchange pig feed cost index is 933.62, up 0.26; the monthly output of feed is 30,086,000 tons, up 307,000 tons; the price of binary breeding sows is 1,429 yuan/head, down 2 yuan; the breeding profit of purchased piglets is 53.1 yuan/head, down 38.32 yuan; the breeding profit of self - bred and self - raised live pigs is - 98.32 yuan/head, down 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, up 9340,000 heads; the monthly retail sales of social consumer goods in the catering industry is 573.8 billion yuan, down 31.9 billion yuan [2]. Industry News - On February 26, 2026, the daily national live pig出栏 volume of key breeding enterprises was 259,550 heads, an increase of 3.03% from the previous day. The supply side is gradually increasing as large - scale farms resume slaughter, and attention should be paid to the timing of secondary fattening entry. The demand side may see a short - term improvement in demand due to the resumption of work of slaughtering enterprises after the festival and the start of school, but overall, the demand has entered the off - season [2].