养殖产业链日报：近月宽松明显-20260320

Group 1: Report Investment Rating - No relevant information Group 2: Core Views - The soybean market has gradually slowed down and is currently in a stalemate, with weak sales. The downstream is in a state of consuming inventory and waiting and seeing, and the price decline space is limited. Attention should be paid to the arrival of imported soybeans and the release of reserve beans [1] - The corn price has limited adjustment space after a continuous rise, and it is advisable to buy on dips in the future [2] - The egg price is restricted by the high inventory, but the inventory is expected to decline in March, and it is recommended to take a low - buying strategy [2] - The pig market is in a stage of shock and bottom - grinding. Although there is support for far - month contracts, the supply - demand pattern will not change until the official data is significantly adjusted [4] Group 3: Summary by Commodity Soybean - Since March, the soybean market has seen a slowdown in sales, with downstream enterprises having sufficient inventory and cautious procurement. The price has fallen from a high level, and attention should be paid to the arrival of imported soybeans and the release of reserve beans [1] Corn - In the Northeast, the remaining grain at the grass - roots level is less than 30%. The market supply has increased, but the feed enterprises' acceptance of high - priced grain is insufficient. The start - up rate of deep - processing enterprises has rebounded. The rumored release of expired rice may suppress the corn price. The price adjustment is limited, and it is advisable to buy on dips [2] Egg - In late February 2026, the national laying - hen inventory was 1.35 billion, a year - on - year increase of 3.4%. The new - laying hens in March - April will decrease significantly, and the inventory will decline in April - May. The short - term supply - demand is loose, but there is an expected decline in March. It is recommended to take a low - buying strategy [2] Pig - In March, the government strengthened the regulation of the pig market, with a target to reduce the number of breeding sows by 7.8%. The current supply is still loose, the demand is weak, and the breeding profit has deteriorated. The far - month contracts may have some support, but the market is still in a bottom - grinding stage [3][4]