Core Insights - The domestic futures market for agricultural products shows mixed performance, with live pig futures experiencing a downward trend, dropping nearly 2% to 11,920.00 CNY/ton as of the report [1] Price Trends - The average price of piglets in the third week of October is 25.13 CNY/kg, down 3.5% week-on-week and 29.5% year-on-year, marking a 21-month low [2] - Prices for piglets vary by region, with higher prices in South China at 28.23 CNY/kg and lower prices in East China at 24.11 CNY/kg [2] Supply and Demand Dynamics - The supply of piglets and feed is expected to remain ample into the fourth quarter of 2025 and the first half of 2026, indicating a continued increase in supply [2] - Post-holiday, the pace of pig slaughter is expected to stabilize, with a decrease in slaughter weight contributing to a gradual easing of supply-demand conditions in the fourth quarter [2] Consumption Trends - After the frost season, daily pork consumption is increasing, indicating a marginal improvement in terminal demand [3] Market Sentiment - According to Zhongyuan Futures, the pace of slaughter is slowing, and there is a sentiment of price recovery in the market, although effective rebounds have not yet formed, maintaining a weak oscillation [4] - Caida Futures notes that the rise in national live pig prices is slowing, with slaughter demand increasing and pressure on slaughtering easing before the end of the month, providing short-term price support [4]