养殖产业链日报：近月宽松明显-20260326

Report Industry Investment Rating - Not provided Core Viewpoints - The soybean price in the Northeast region has slightly declined, but the support below the futures price is strong, with limited short - term adjustment space and a mid - term upward trend [1]. - The domestic corn market shows a regional - differentiated and multi - factor - intertwined volatile pattern. There is a short - term adjustment, but the downside space is limited, and it is advisable to wait for the adjustment to complete and then consider buying on dips [1][2]. - The egg price is supported by a decrease in production capacity in March and is expected to gradually move up in the long - term, but a small - scale adjustment should be watched out for after a sharp rise [2]. - The pig market is in a stage of capacity reduction, with low prices and poor profits in the short - term. The price may gradually recover in the second half of the year [3][4]. Summary by Related Catalogs Soybean - In the Northeast region, due to increased planting costs, scarce grassroots inventory, and intensified geopolitical conflicts, along with weak overall demand, the soybean price has slightly declined, while the high - protein soybean price is relatively firm. Traders are mostly on the sidelines. In the inland region, the soybean circulation is slow, and the market is hard to stabilize. On March 26, the actual transaction volume of the state - owned soybean auction was 64,941 tons out of the planned 104,095 tons, with a base price of 4,500 yuan/ton and an average transaction price of 4,505 yuan/ton [1]. Corn - The domestic corn market is regionally differentiated. In North China, the supply is high, the inventory of deep - processing enterprises is accumulating, and the price is slightly weak, with the current purchase price ranging from 2,420 to 2,500 yuan/ton. In Northeast China, the sales of ground - stored grain are coming to an end, and the supply has increased recently, with some deep - processing purchase prices slightly reduced by 10 - 20 yuan/ton. There is a short - term adjustment in the corn price, but the downside space is limited [1][2]. 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%. However, due to a significant decrease in new - laying hens from March to April and an expected decline in the inventory from April to May, along with a decrease in egg supply in March, the egg price is supported to rise. After a sharp rise, a small - scale adjustment should be watched out for [2]. Pig - Affected by factors such as the post - holiday decline in consumer demand, the pig price has entered the first - level early - warning range of excessive decline. The March pig slaughter plan of key provincial - level large - scale breeding enterprises has increased by 17.63% month - on - month, and the average slaughter weight has reached 128.55 kg. The market supply is large, the demand is weak, and the breeding profit has deteriorated. The pig market is in a capacity - reduction stage in the short - term, and the price may recover in the second half of the year [3][4].