申万期货品种策略日报-生猪（LH）-20260309

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core View of the Report - The overall pig market remains weak. The northern market fluctuates, with some low - price areas testing the 10 - yuan mark. Group enterprises mainly stabilize prices and wait - and - see, but supply is abundant. In the south, pig prices decline slightly, with group companies resuming normal sales, sufficient market supply, weak terminal consumption, poor white - strip sales, and lack of positive support. In the short term, the pressure of pig出栏 is the dominant factor, and it is expected that today's national pig prices will continue to bottom - out. It is recommended to pay attention to the changes in the出栏 rhythm of leading enterprises [2] Group 3: Summary by Relevant Catalogs Futures Market - Prices: The previous day's closing prices for January, March, May, July, September, and November contracts were 13760, 10150, 11160, 12180, 13140, and 13380 respectively, with changes of - 15, - 30, 20, - 25, - 80, and - 110 compared to the day before, and corresponding percentage changes of - 0.11%, - 0.29%, 0.18%, - 0.20%, - 0.61%, and - 0.82% [2] - Trading Volume: The trading volumes for January, March, May, July, September, and November contracts were 5776, 1, 81566, 14998, 20888, and 9979 respectively [2] - Open Interest: The open interests for January, March, May, July, September, and November contracts were 12868, 178, 173194, 59038, 54077, and 35141 respectively, with changes of 2074, - 7, 4967, 1997, 2920, and 1285 [2] - Price Spreads: The current price spreads of January - March, March - May, May - July, July - September, September - November, and November - January were 3610, - 1010, - 1020, - 960, - 240, and - 380 respectively, compared to the previous values of 3595, - 960, - 1065, - 1015, - 270, and - 285 [2] Spot Market - Prices: The current spot prices in Henan, Sichuan, Hunan, Guangdong, Guangxi, and Liaoning were 10.53, 10.17, 10.13, 10.58, 9.97, and 10.07 yuan/ton respectively, with changes of - 0.11, - 20.34, - 0.14, - 0.23, - 0.1, and - 0.03 compared to the previous day [2] Warehouse Receipts - The number of warehouse receipts was 1150 on the previous day, with no change compared to the day before [2]