瑞达期货生猪产业日报-20260305

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The supply pressure in the near - term remains high based on sow production capacity and the number of newborn piglets. Although the slaughter volume has rebounded from the holiday low, consumption has entered the traditional off - season with the temperature rising, and it is difficult to return to the pre - holiday high. The short - term spot price of live pigs has stopped falling and stabilized due to farmers' price - holding and increased inquiries for secondary fattening, but the overall price is in a weak and volatile state with a loose supply - demand pattern. The main 2605 contract on the futures market closed down 0.18% with a narrowing decline, testing the support at the 11,000 mark. Attention should be paid to secondary fattening and slaughter conditions [2] 3. Summary by Relevant Catalogs 3.1 Futures Disk - The closing price of the main futures contract for live pigs was 11,140 yuan/ton, with a 10 - unit change. The main contract position was 168,227 lots, a decrease of 1,382 lots. The number of warehouse receipts was 1,150 lots with no change. The net long position of the top 20 futures holders was - 49,010 lots, a decrease of 544 lots [2] 3.2 Spot Price - The live pig price in Henan Zhumadian was 10,700 yuan/ton with no change, in Jilin Siping was 9,800 yuan/ton with no change, and in Guangdong Yunfu was 11,200 yuan/ton with no change. The main live pig basis was - 440 yuan/ton, a decrease of 10 yuan/ton [2] 3.3 Upstream Situation - The national live pig inventory was 42,9670,000 heads, a decrease of 7130,000 heads. The national breeding sow inventory was 3,9610,000 heads, a decrease of 290,000 heads [2] 3.4 Industry Situation - The year - on - year CPI was 0.2%, a decrease of 0.6 percentage points. The spot price of soybean meal in Zhangjiagang was 3,040 yuan/ton, a decrease of 20 yuan/ton. The corn spot price was 2,413.73 yuan/ton, an increase of 10.59 yuan/ton. The Dalian Commodity Exchange pig feed cost index was 946.75, an increase of 2.68. The monthly feed output was 30,086,000 tons, an increase of 307,000 tons. The price of binary breeding sows was 1,429 yuan/head with no change. The breeding profit for purchased piglets was 20.83 yuan/head, a decrease of 32.27 yuan/head. The breeding profit for self - bred and self - raised live pigs was - 159.65 yuan/head, a decrease of 61.33 yuan/head. The monthly pork import volume was 60,000 tons with no change. The average price of white - striped chickens in the main producing areas was 13.8 yuan/kg, a decrease of 0.2 yuan/kg [2] 3.5 Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises was 4,4040,000 heads, a decrease of 4870,000 heads. The monthly catering revenue in social consumer goods retail sales was 573.8 billion yuan, a decrease of 31.9 billion yuan [2] 3.6 Industry News - According to the sample data of key breeding enterprises from Shanghai Ganglian, on March 5, 2026, the daily live pig出栏量 of key breeding enterprises nationwide was 297,746 heads, an increase of 5.41% compared with the previous day [2]