养殖产业链日报：近月宽松明显-20260311

Report Industry Investment Rating No relevant information provided. Core Viewpoints - The domestic soybean market is expected to remain strong, and it is advisable to go long at low prices [1]. - Corn fundamentals are still strong, and it is recommended to replenish stocks or buy on dips [2]. - Egg prices are expected to be stable with a slight upward trend, and a low - long strategy is recommended [2]. - The pig market is in a key game period of short - term price pressure and long - term capacity clearance, and the near - term is expected to fluctuate at the bottom [4]. Summary by Related Catalogs Soybean - Northeast soybean prices have been rising since the listing. After the Chinese New Year, due to geopolitical conflicts, futures rally, and Cofco's increased purchase price, the price of the remaining soybeans has continued to rise. After a small amount of restocking, the overall market trading is still light [1]. Corn - In Northeast China, the remaining grain at the grass - roots level is less than 30%. As the temperature rises and the spot price increases, the remaining grain is gradually released. The post - holiday operating rate of processing enterprises has increased slightly, and the overall downstream demand is okay. The purchase price remains strong. On the 9th, all the grain sources put up by Sinograin were sold, with a large local premium [1]. Egg - As of the end of February 2026, the national laying hen inventory was 1.35 billion, a year - on - year increase of 3.4%. The number of newly - laid hens from March to April 2026 will decrease significantly. The laying hen inventory will enter a downward channel from April to May. The supply is expected to shrink, and the price is expected to be stable with a slight upward trend [2]. Pig - As of the end of December 2025, the national breeding sow inventory was 39.61 million, 101.6% of the normal level. In January 2026, it slightly decreased to 39.58 million, still above the regulatory red line. The first half of 2026 will face greater pressure on pig slaughter. The state has carried out pork purchases, and it is expected that subsequent purchases will continue. The industry is in a key game period, and the near - term is expected to fluctuate at the bottom [3][4].