Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core View of the Report - The current supply of the live - hog market remains relatively high, and the overall supply pressure may still need to be reflected. The live - hog price is expected to have certain downward pressure in the short term. Although the live - hog futures market showed a significant increase today, due to high production capacity, the subsequent price increase is difficult, and the futures price may also face downward pressure after short - term support [2][5]. 3. Summary according to the Directory Spot Information - **Spot Price**: The live - hog spot price declined slightly today. The market's slaughter rhythm changed little, and the supply situation improved compared to before. The monthly - scale enterprise's live - hog slaughter plan increased slightly month - on - month, and the slaughter motivation was average. The slaughter of ordinary farmers slowed down, and secondary fattening decreased significantly. The current market supply is still relatively large, and the live - hog slaughter weight remains high [2]. - **Mother Pig/Piglet Price**: The mother pig price was 1621 today, down 5 from last week; the piglet price was 465, down 16 from last week [2]. - **Contract Spread**: There were different changes in contract spreads. For example, LH7 - 9 was - 530 today, down 145 from yesterday; LH9 - 1 was 140 today, up 140 from yesterday [2]. - **Futures Price**: The live - hog futures price showed a significant increase today. For example, LH09 was 13750 today, up 150 from yesterday [2]. - **Slaughter End**: The slaughter volume was 143937 today, up 948 from yesterday [2]. - **Size Pig Spread**: The size pig spread changed slightly. For example, the spread between large pigs and standard pigs increased from 0.05 to 0.07 [2]. Trading Strategy - **Single - Side**: Mainly in a volatile operation. - **Arbitrage**: LH79 reverse arbitrage. - **Options**: Sell the wide - straddle strategy [6].