供应压力好转，猪价整体上涨

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The supply pressure in the pig market has improved, and pig prices have generally increased. However, in the short - term, there is still some pressure in the pig market, and the upside space is relatively limited. The futures price of pigs shows a certain oscillatory performance, and in the medium - to - long - term, the supply - side pressure remains the main influencing factor, and the futures are expected to operate in a low - level oscillation [2][6]. 3. Summary According to Relevant Catalogs 3.1 Spot Price - Today, the spot prices of pigs in various regions of the country showed an upward trend. The average price was 10.74 yuan, a decrease of 0.13 yuan compared with yesterday. Among them, the prices in some regions such as Henan, Hubei, and Anhui increased, while the prices in Sichuan, Fujian, and Guizhou decreased [4]. 3.2 Futures Price - The futures prices of pigs showed an oscillatory performance. Contracts such as LH01, LH07, LH09, and LH11 increased, while contracts such as LH03 and LH05 decreased [4]. 3.3 Sow/Piglet Price - The price of piglets this week was 359 yuan, a decrease of 6 yuan compared with last week. The price of sows remained unchanged at 1557 yuan [4]. 3.4 Spot Breeding Profit - The spot breeding profit of self - breeding and self - raising was - 98.32 yuan, a decrease of 60.23 yuan compared with yesterday. The spot breeding profit of purchasing piglets was 53.10 yuan, a decrease of 38.32 yuan compared with yesterday [4]. 3.5 Slaughter End - The slaughter volume today was 121,757 heads, an increase of 6,136 heads compared with yesterday [4]. 3.6 Size Pig Price Difference - The price difference between standard pigs and medium - sized pigs decreased by 0.01 yuan, the price difference between medium - large pigs and standard pigs increased by 0.02 yuan, the price difference between large pigs and medium - large pigs decreased by 0.02 yuan, and the price difference between large pigs and standard pigs remained unchanged [4]. 3.7 Trading Strategy - Unilateral: Wait and see - Arbitrage: Wait and see - Options: Mainly adopt the strategy of selling wide straddles [7]