| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 13900 | -145 主力合约持仓量:生猪(日,手) | 64710 | -1520 | | | 仓单数量:生猪(日,手) | 430 | 0 期货前20名持仓:净买单量:生猪(日,手) | -16753 | 2539 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 13700 | 0 生猪价 吉林 四平(日,元/吨) | 13400 | 100 | | | 生猪价 广东 云浮(日,元/吨) | 15100 | -200 生猪主力基差(日,元/吨) | -200 | 145 | | 上游情况 | 生猪存栏(月,万头) | 42447 | 716 生猪存栏:能繁母猪(月,万头) | 4043 | 1 | | 产业情况 | CPI:当月同比(月,%) | 0 | -0.1 现货价:豆粕:张家港(日,元/吨) | 3090 | 0 | | | 玉米现货价 | 2394.12 | - ...

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The supply of live pigs has increased recently due to the accelerated rhythm of weight - reducing sales by the breeding side, while the demand has slightly recovered with the increase in the slaughterhouse's operating rate, but the high temperature still restricts the increase. It is expected that the demand will improve significantly during the upcoming student enrollment and double - festival stocking periods. The spot price of live pigs runs steadily and slightly weakly, but the long - term supply pressure is expected to decrease marginally due to capacity policies, and the futures price of the live pig 2511 contract is stronger than the spot price, showing a volatile and slightly stronger trend. It is recommended to try long positions on dips [2]. 3. Summary According to Relevant Catalogs 3.1 Futures Disk - The closing price of the main futures contract for live pigs is 14,230 yuan/ton, up 90 yuan; the main contract's open interest is 60,882 lots, down 1,419 lots; the number of warehouse receipts is 410 lots, up 410 lots; the net long position of the top 20 futures holders is - 19,292 lots, up 2 lots [2]. 3.2 Spot Price - The live pig price in Henan Zhumadian is 13,600 yuan/ton, unchanged; in Jilin Siping is 13,200 yuan/ton, up 100 yuan; in Guangdong Yunfu is 15,300 yuan/ton, unchanged. The main live pig basis is - 630 yuan/ton, down 90 yuan [2]. 3.3 Upstream Situation - The live pig inventory is 42,4470,000 heads, up 7160,000 heads; the inventory of breeding sows is 4,0430,000 heads, up 10,000 heads [2]. 3.4 Industry Situation - The year - on - year change of CPI is 0%, down 0.1 percentage points; the spot price of soybean meal in Zhangjiagang is 2,940 yuan/ton, down 10 yuan; the spot price of corn is 2,394.12 yuan/ton, down 0.78 yuan; the Dalian Commodity Exchange's pig feed cost index is 931.74, up 1.06; the monthly output of feed is 29,377,000 tons, up 1,756,000 tons; the price of binary breeding sows is 1,638 yuan/head, unchanged; the breeding profit of purchased piglets is - 134.14 yuan/head, down 17.36 yuan; the breeding profit of self - bred and self - raised live pigs is 45.13 yuan/head, up 1.28 yuan; the monthly import volume of pork is 90,000 tons, unchanged; the average price of white - striped chickens in the main producing areas is 13.9 yuan/kg, up 0.2 yuan [2]. 3.5 Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises is 3,0060,000 heads, down 2100,000 heads; the monthly value of catering revenue in total social consumer goods retail sales is 470.76 billion yuan, up 12.94 billion yuan [2]. 3.6 Industry News - On August 12, 2025, the daily national live pig slaughter volume of key breeding enterprises was 277,425 heads, up 0.56% from the previous day; on Tuesday, the live pig 2511 contract closed up 0.21% [2].

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The increase in the number of pigs sold by breeders puts pressure on the spot price. However, due to the policy - guided reduction in long - term supply pressure marginally, which provides more support for the far - month contracts, combined with the expectation of improved future demand, the futures price of the live hog 2511 contract performs stronger than the spot price, showing a slightly bullish and volatile trend. It is recommended to try long positions on dips [2]. Summary by Related Catalogs Futures Market - The closing price of the main futures contract for live hogs is 14,140 yuan/ton, down 40 yuan; the main contract position is 62,301 lots, up 2,107 lots; the number of warehouse receipts is 0 lots, down 380 lots; the net long position of the top 20 futures holders is - 20,292 lots, down 998 lots [2]. Spot Market - The live hog prices in Henan Zhumadian, Guangdong Yunfu remain unchanged at 13,600 yuan/ton and 15,300 yuan/ton respectively, while the price in Jilin Siping rises 100 yuan to 13,100 yuan/ton. The main live hog basis is - 540 yuan/ton, up 40 yuan [2]. Upstream Situation - The monthly live hog inventory is 42,4470,000 heads, up 7160,000 heads; the inventory of breeding sows is 4,0420,000 heads, up 40,000 heads [2]. Industry Situation - The month - on - month CPI is 0.1%, up 0.2 percentage points; the spot price of soybean meal in Zhangjiagang is 2,950 yuan/ton, up 10 yuan; the spot price of corn is 2,394.9 yuan/ton, down 0.69 yuan; the Dalian Commodity Exchange pig feed cost index is 930.68, down 1.18; the monthly feed output is 27,621,000 tons, up 981,000 tons; the price of binary breeding sows is 1,638 yuan/head, unchanged; the breeding profit of purchased piglets is - 134.14 yuan/head, down 17.36 yuan; the breeding profit of self - bred and self - raised live hogs is 45.13 yuan/head, up 1.28 yuan; the monthly pork import volume is 90,000 tons, unchanged; the average price of white - striped chickens in the main producing areas is 13.9 yuan/kg, up 0.2 yuan [2]. Downstream Situation - The monthly slaughter volume of designated live hog slaughtering enterprises is 3,2160,000 heads, up 1390,000 heads; the monthly catering revenue in total social consumer goods retail sales is 470.76 billion yuan, up 1.294 billion yuan [2]. Industry News - On August 11, 2025, the daily national live hog output of key breeding enterprises was 275,875 heads, up 3.67% from Friday. The live hog 2611 contract closed flat on Monday. On the supply side, the rhythm of weight - reducing sales by breeders has accelerated recently, increasing market supply. The demand side has seen a slight increase in the slaughterhouse operation rate due to sufficient pig supply and partial demand recovery, but high temperatures still suppress pork purchasing willingness, limiting the recovery. The long - term supply pressure is expected to decrease marginally due to policy guidance, and the demand is expected to improve significantly during the back - to - school season and double - festival stocking period [2].

Group 1: Report Industry Investment Rating - No information provided on the report industry investment rating Group 2: Core Viewpoints - Short - term prices are dominated by the slaughter rhythm, with repeated fluctuations. The current slaughter volume has recovered from a low level, and increased supply is pressuring the near - month prices to fluctuate slightly weaker. It is recommended to gradually take profits on short positions in the 2509 contract and wait and see [2] Group 3: Summary by Relevant Catalogs Futures Disk - The closing price of the futures main contract for live pigs is 14,010 yuan/ton, up 125 yuan; the main contract position is 58,972 lots, up 23,262 lots; the number of warehouse receipts is 380 lots, up 80 lots; the net long position of the top 20 futures holders is - 18,191 lots, up 2,462 lots [2] Spot Price - The live pig price in Henan Zhumadian is 14,000 yuan/ton, down 100 yuan; in Jilin Siping is 13,400 yuan/ton, unchanged; in Guangdong Yunfu is 15,500 yuan/ton, unchanged; the main live pig basis is - 10 yuan/ton, down 225 yuan [2] Upstream Situation - The live pig inventory is 42,4470,000 heads, up 7160,000 heads; the inventory of breeding sows is 4,0420,000 heads, up 40,000 heads [2] Industry Situation - The year - on - year CPI is 0.1%, up 0.2 percentage points; the spot price of soybean meal in Zhangjiagang is 2,920 yuan/ton, down 20 yuan; the spot price of corn is 2,395.1 yuan/ton, down 2.94 yuan; the Dalian Commodity Exchange pig feed cost index is 928.21, up 4.13; the monthly output of feed is 27,621,000 tons, up 981,000 tons; the price of binary breeding sows is 1,638 yuan/head, unchanged; the breeding profit of purchased piglets is - 116.78 yuan/head, down 45.39 yuan; the breeding profit of self - bred and self - raised live pigs is 43.85 yuan/head, down 18.31 yuan; the monthly import volume of pork is 90,000 tons, unchanged; the average price of white - striped chickens in the main production areas is 13.7 yuan/kg, unchanged [2] Downstream Situation - The slaughter volume of designated live pig slaughtering enterprises is 32,160,000 heads, up 1,390,000 heads; the monthly retail sales of social consumer goods in the catering industry is 470.76 billion yuan, up 12.94 billion yuan [2] Industry News - On August 6, 2025, the daily national slaughter volume of key breeding enterprises was 255,760 heads, up 1.11% from the previous day; on Wednesday, the 2611 contract of live pigs closed up 0.68%. The supply side shows that the slaughter rhythm of the breeding side has accelerated, and the supply has increased. The demand side shows that the supply of live pigs is sufficient, the demand in some areas has recovered, the operating rate of slaughterhouses has rebounded slightly, but high temperatures still suppress people's willingness to buy pork, resulting in a limited rebound [2]

Group 1: Report Industry Investment Rating - Not provided Group 2: Core View of the Report - The short - term price is dominated by the slaughter rhythm and will fluctuate repeatedly. With the short - term recovery of the slaughter volume from a low level, it will put pressure on price fluctuations. It is expected that the price will fluctuate slightly weakly. It is recommended to sell short at high prices and set stop - losses [2] Group 3: Summary by Relevant Catalogs Futures Market - The closing price of the main futures contract for live pigs was 13,885 yuan/ton, down 55 yuan; the main contract position was 35,710 lots, down 2,540 lots; the number of warehouse receipts was 300 lots, unchanged; the net long position of the top 20 futures holders was - 20,653 lots, down 575 lots [2] Spot Market - The live pig prices in Henan Zhumadian, Jilin Siping, and Guangdong Yunfu were 14,100 yuan/ton (up 200 yuan), 13,400 yuan/ton (unchanged), and 15,500 yuan/ton (unchanged) respectively. The main live pig basis was 215 yuan/ton, up 255 yuan [2] Upstream Situation - The live pig inventory was 42,4470,000 heads (up 7160,000 heads), and the inventory of breeding sows was 4,0420,000 heads (up 40,000 heads). The CPI year - on - year was 0.1% (up 0.2 percentage points). The spot price of soybean meal in Zhangjiagang was 2,940 yuan/ton (up 20 yuan), the spot price of corn was 2,398.04 yuan/ton (down 3.33 yuan), and the Dalian Commodity Exchange pig feed cost index was 924.08 (down 9.46). The monthly output of feed was 27,621,000 tons (up 981,000 tons), the price of binary breeding sows was 1,638 yuan/head (unchanged), the breeding profit of purchased piglets was - 116.78 yuan/head (down 45.39 yuan), and the breeding profit of self - bred and self - raised live pigs was 43.85 yuan/head (down 18.31 yuan). The monthly import volume of pork was 90,000 tons (unchanged), and the average price of white - striped chicken in the main producing areas was 13.7 yuan/kg (unchanged) [2] Downstream Situation - The monthly slaughter volume of designated live pig slaughtering enterprises was 32,160,000 heads (up 1,390,000 heads), and the monthly retail sales of social consumer goods in the catering industry was 470.76 billion yuan (up 12.94 billion yuan) [2] Industry News - Mysteel data showed that on August 5, 2025, the daily slaughter volume of live pigs by sample slaughtering enterprises in key provinces was 112,554 heads, a 0.97% increase from the previous period. On Tuesday, the live pig 2509 contract closed up 0.04%. The supply side saw an increase in supply as the slaughter rhythm resumed after a short - term reduction at the beginning of the month. The demand side had sufficient pig supply, and the slaughterhouse opening rate rebounded slightly, but the high temperature still suppressed the willingness to buy pork, resulting in a limited rebound [2]

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 13940 | -115 主力合约持仓量:生猪(日,手) | 38250 | -2721 | | | 仓单数量:生猪(日,手) | 300 | 0 期货前20名持仓:净买单量:生猪(日,手) | -20078 | 714 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 13900 | -300 生猪价 吉林 四平(日,元/吨) | 13400 | -500 | | | 生猪价 广东 云浮(日,元/吨) | 15500 | -400 生猪主力基差(日,元/吨) | -40 | -185 | | 上游情况 | 生猪存栏(月,万头) | 41731 | -1012 生猪存栏:能繁母猪(月,万头) | 4042 | 4 | | 产业情况 | CPI:当月同比(月,%) | 0.1 | 0.2 现货价:豆粕:张家港(日,元/吨) | 2920 | 20 | | | 玉米现货价 | 2401 ...

生猪产业日报 2025-07-31 际支撑作用更加明显。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 14075 | 0 主力合约持仓量:生猪(日,手) | 45199 | -7850 | | | 仓单数量:生猪(日,手) | 0 | 0 期货前20名持仓:净买单量:生猪(日,手) | -21650 | 4258 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 14000 | 200 生猪价 吉林 四平(日,元/ ...

。总体来说，短期价格由出栏节奏主导。当前供应增加，供需偏松导致价格承压，一般月末月初出栏或放 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 缓，关注后市出栏情况，价格可能反复波动。考虑养殖周期较长，产能政策对远期合约的支撑作用更加明 研究员: 张昕 期货从业资格号F03109641 期货投资咨询从业证书号Z0018457 显。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 生猪产业日报 2025-07-29 | 项目类别 | 数据指标 环比 数据指标 | 最新 | | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 14150 ...

生猪产业日报 2025-07-24 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货盘面 | 期货主力合约收盘价:生猪(日,元/吨) | 14365 | -225 主力合约持仓量:生猪(日,手) | 62464 | -4839 | | | 仓单数量:生猪(日,手) | 284 | 0 期货前20名持仓:净买单量:生猪(日,手) | -20784 | 20 | | 现货价格 | 生猪价 河南 驻马店(日,元/吨) | 14300 | -100 生猪价 吉林 四平(日,元/吨) | 13900 | -200 | | | 生猪价 广东 云浮(日,元/吨) | 15700 | -200 生猪主力基差(日,元/吨) | -290 | -310 | | 上游情况 | 生猪存栏(月,万头) | 41731 | -1012 生猪存栏:能繁母猪(月,万头) | 4042 | 4 | | 产业情况 | CPI:当月同比(月,%) | -0.1 | 0 现货价:豆粕:张家港(日,元/吨) | 2860 | -60 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - As the hog price weakens, the low price attracts secondary fattening entry, and the monthly - end slaughter rhythm may slow down again, supporting the short - term hog futures price to fluctuate higher. However, due to weak demand, the increase in the spot price is limited, which will drag down the upside space of the futures market. The short - term price is greatly affected by the slaughter and secondary fattening entry and exit rhythm and may be volatile [2]. 3. Summary by Related Catalogs 3.1 Futures Market - The closing price of the main hog futures contract is 14,590 yuan/ton, up 210 yuan; the main contract position is 67,303 lots, up 7,482 lots; the number of warehouse receipts is 284 lots, unchanged; the net long position of the top 20 futures holders is - 20,804 lots, down 3,994 lots [2]. 3.2 Spot Market - The hog prices in Henan Zhumadian, Jilin Siping, and Guangdong Yunfu are 14,300 yuan/ton (down 100 yuan), 13,900 yuan/ton (down 200 yuan), and 15,700 yuan/ton (down 200 yuan) respectively. The main hog basis is - 290 yuan/ton, down 310 yuan [2]. 3.3 Upstream Situation - The monthly hog inventory is 41,7310,000 heads, down 1,0120,000 heads; the monthly inventory of breeding sows is 4,0420,000 heads, up 40,000 heads [2]. 3.4 Industry Situation - The year - on - year change of CPI is - 0.1%, unchanged; the spot price of soybean meal in Zhangjiagang is 2,920 yuan/ton, unchanged; the spot price of corn is 2,409.02 yuan/ton, down 0.88 yuan; the Dalian Commodity Exchange pig feed cost index is 950.02, up 0.49; the monthly output of feed is 27,621,000 tons, up 981,000 tons; the weekly price of binary breeding sows is 1,638 yuan/head, down 2 yuan; the weekly breeding profit of purchased piglets is - 18.66 yuan/head, down 50.26 yuan; the weekly breeding profit of self - bred and self - raised hogs is 90.89 yuan/head, down 42.98 yuan; the monthly import volume of pork is 90,000 tons, up 10,000 tons; the weekly average price of white - striped chicken in the main production areas is 13.4 yuan/kg, up 0.2 yuan [2]. 3.5 Downstream Situation - The monthly slaughter volume of designated hog slaughtering enterprises is 3,2160,000 heads, up 1390,000 heads; the monthly retail sales of social consumer goods in the catering industry is 4,578.2 billion yuan, up 411.2 billion yuan [2]. 3.6 Industry News - On July 23, 2025, the daily hog slaughter volume of key breeding enterprises nationwide was 269,940 heads, down 0.01% from the previous day. The hog 2509 contract rose 1.67% on Wednesday. Supply in July - August may be affected by factors such as high disease incidence at the beginning of the year and growth slowdown due to high temperature. Currently, the slaughter volume of the breeding end has increased in the middle of the month, with a higher proportion of large hogs in the south, but there are many auction failures, and low prices attract secondary fattening inquiries. Demand is weak due to high temperature and school holidays, the slaughterhouse startup rate continues to decline but is higher than last year [2].