021-60635727 期货从业资格号：F0230741 研究员：洪辰亮 021-60635572 hongchenliang@ccb.ccbfutures.co m 期货从业资格号：F3076808 021-60635570 行业 生猪日报 日期 2025 年 11 月 14 日 021-60635740 期货从业资格号：F3055047 021-60635732 yulanlan@ccb.ccbfutures.com 期货从业资格号：F0301101 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 农业产品研究团队 研究员：林贞磊 linzhenlei@ccb.ccbfutures.com 研究员：余兰兰 研究员：王海峰 wanghaifeng@ccb.ccbfutures.com 研究员：刘悠然 请阅读正文后的声明 ＃summary＃ 每日报告 一、行情回顾与操作建议 数据来源：涌益，建信期货研究中心 生猪行情： 期货方面，13 日生猪主力 2601 合约小幅低开后探底回升震荡走高，尾盘收 阳，最高 11865 元/吨，最低 11690 元/吨，收盘报 1 ...

021-60635727 期货从业资格号：F0230741 研究员：洪辰亮 021-60635572 hongchenliang@ccb.ccbfutures.co m 期货从业资格号：F3076808 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 农业产品研究团队 研究员：林贞磊 linzhenlei@ccb.ccbfutures.com 研究员：余兰兰 研究员：王海峰 wanghaifeng@ccb.ccbfutures.com 研究员：刘悠然 行业 生猪日报 日期 2025 年 11 月 12 日 021-60635740 期货从业资格号：F3055047 021-60635732 yulanlan@ccb.ccbfutures.com 期货从业资格号：F0301101 请阅读正文后的声明 ＃summary＃ 每日报告 一、行情回顾与操作建议 图1：全国生猪出栏价 元/公斤 图2：样本屠宰场屠宰量 头 数据来源：涌益，建信期货研究中心 数据来源：涌益，建信期货研究中心 生猪行情： 期货方面，11 日生猪主力 2601 合约小幅低开 ...

Core Viewpoint - The pace of weight reduction in large-scale pig farms has accelerated due to policy changes and rising temperatures, leading to a decrease in the average weight of pigs being sold [1] Industry Summary - The overall market's capacity to absorb supply remains limited, which is suppressing the transaction pace of larger pigs [1] - Farmers still hold expectations for the future market of larger pigs, resulting in a limited overall supply during the week [1] Data Summary - As of the week of June 19, the average weight of external three yuan pigs in China was 123.78 kg, a decrease of 0.18 kg from the previous week, reflecting a slight week-on-week decline of 0.15% [1] - This average weight has reached a three-month low, with a year-on-year decline of 0.35% [1]

Core Viewpoint - Domestic pig prices are experiencing limited fluctuations, with large-scale farms not significantly reducing the weight of pigs for sale [1] Group 1: Market Conditions - The average weight of pigs sold in the week of May 15 was 124.12 kg, remaining stable compared to the previous week and showing a year-on-year increase of 1.08% [1] - Southern regions still exhibit a price gap for standard pigs, leading farmers to prefer selling heavier pigs [1] Group 2: Industry Trends - The overall trend indicates that the average weight of pigs being sold remains at a high level, reflecting the current market dynamics [1] - Smaller farms are also aligning with this trend, indicating a consistent approach across different scales of operations [1]

Core Insights - The pig market is experiencing a strong fluctuation with an increase in the average weight of pigs being marketed, reaching a seven-month high [1] Group 1: Market Trends - Recent entry of second-batch pigs has contributed to a strong fluctuation in the pig market [1] - Feed costs have seen limited increases, allowing farmers to focus on selling heavier pigs to improve profit margins [1] Group 2: Weight and Pricing Data - As of April 17, the average weight of external three-yuan pigs in China was 124.01 kg, a slight increase of 0.03 kg from the previous week [1] - The week-on-week increase represents a 0.02% rise, marking a seven-month high, and a year-on-year increase of 0.87% [1]