大北农（002385）公告，2025年4月份生猪销售数量为60.11万头，同比增长4.39%，环比下降12.20%。 销售收入为10.09亿元，同比增长5.03%，环比下降14.98%。 ...

天康生物（002100）公告，2025年4月份销售生猪24.47万头，同比下降1.58%，环比下降3.93%；销售收 入3.8亿元，同比持平，环比增长1.06%。2025年1-4月，公司累计销售生猪105.54万头，同比增长 18.84%；累计销售收入15.57亿元，同比增长11.61%。 ...

Core Viewpoint - The article discusses the challenges faced by American farmers in finding alternative markets for products like chicken feet and fish heads, which were previously exported to China but are now affected by high tariffs due to trade tensions [1][2][12]. Group 1: Impact on Chicken Feet Exports - American farmers are struggling to adapt to new tariffs imposed by China, which has significantly reduced the demand for chicken feet, a product that is popular in China but not in the U.S. [1][2] - In 2022, the export volume of chicken feet to China reached 479,700 tons, making it the largest export market for this product [1]. - The president of the U.S. Poultry & Egg Export Council stated that the latest tariffs could drive chicken feet exports "close to zero" [1]. Group 2: Broader Implications for U.S. Agriculture - The imposition of a 125% retaliatory tariff by China on U.S. imports has led to a significant loss of market for American chicken feet, forcing farmers to consider freezing the product or repurposing it for animal feed [2]. - The U.S. Meat Export Federation reported that the actual tariff rate on U.S. pork products has risen to 172%, severely impacting exports of pork by-products to China, which accounted for over half of U.S. exports [6]. - The economic loss for U.S. farmers due to the trade dispute is estimated to be around $1 billion annually, with each pig potentially losing $8 to $10 in value [6]. Group 3: Fish Head Exports and Alternative Markets - The Two Rivers Fisheries Company, a major fish exporter in Kentucky, reported a 20% expected revenue drop due to canceled orders for fish heads after the tariffs were imposed [8]. - The company processed 1.6 million kilograms of Asian carp in 2024, with China being the sole export market for fish heads [8]. - The owner of the company is now considering targeting the Asian community in the U.S. or exploring markets in South Korea and Vietnam as alternatives [8][9]. Group 4: Overall Agricultural Crisis - The trade tensions have led to widespread cancellations of agricultural orders across various sectors, with the American Agricultural Transportation Coalition describing the situation as a "full-blown crisis" [11]. - The rising costs of fertilizers, pest control chemicals, and agricultural machinery due to tariffs are further exacerbating the challenges faced by American farmers [11].

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - The supply - demand situation of the pig market is expected to shift from short - term relative balance to looser, and the price is predicted to fluctuate weakly. The short - term supply pressure is moderate, but there is potential phased supply pressure, and the demand is cooling. It is recommended to hold short positions cautiously and set stop - losses [6]. 3. Summary by Relevant Catalogs 3.1 Weekly Highlights Summary - **Market Review**: The pig price fluctuated and adjusted, with the main contract rising 0.11% weekly [6][11]. - **Market Outlook**: On the supply side, the post - festival slaughter rhythm of farmers is slow, and the slaughter weight remains stable. However, the price of fat pigs is lower than that of standard pigs, increasing the risk of secondary fattening and weakening the enthusiasm for entry. The pressure from the postponed supply may gradually appear after mid - to late May. According to the pig breeding cycle, the sow production capacity is in an increasing cycle in the second and third quarters, and the medium - term supply pressure is increasing. On the demand side, the post - festival terminal demand declines, the sales speed of white - striped pigs slows down again, the slaughterhouse operating rate decreases, and there are still passive inventory - building phenomena in a few areas. Overall, the short - term supply pressure is general, but the potential phased supply pressure exists, and the demand cools down [6]. - **Strategy Recommendation**: Hold short positions cautiously and set stop - losses [6]. 3.2 Futures and Spot Markets 3.2.1 Futures Market - **Price Movement**: The futures fluctuated and adjusted this week, and the main contract rose 0.11% weekly [8][11]. - **Net Position and Warehouse Receipts**: The net short position in futures decreased, and there were 705 futures warehouse receipts [13]. 3.2.2 Spot Market - **Pig and Piglet Prices**: The national average pig price this week was 14.94 yuan/kg, down 0.01 yuan/kg from last week and 0.47% from last month. The average price of 15 - kg weaned piglets was 40.90 yuan/kg, unchanged from last week and last month [28]. - **Pork and Breeding Sow Prices**: As of April 30th, the national average pork price was 26.02 yuan/kg, down 0.08 yuan/kg from the previous week. The average market price of binary sows this week was 32.52 yuan/kg, up 0.01 yuan/kg from the previous week [33]. - **Pig - Grain Ratio**: As of the week of April 23, 2025, the pig - grain ratio was 6.68, down 0.03 from the previous week [38]. 3.3 Industry Situation 3.3.1 Upstream Situation - **Sow Inventory**: In March 2025, the inventory of reproductive sows was 40.39 million, a decrease of 270,000 from the previous month and an increase of 1.17% year - on - year, equivalent to 103.6% of the normal inventory. In April, according to Mysteel data, the inventory of reproductive sows in large - scale farms increased slightly by 0.36% month - on - month and 4.31% year - on - year, and that in small and medium - sized farms increased by 1.61% month - on - month and 10.15% year - on - year [43]. - **Pig Inventory**: In Q1 2023, the national pig inventory was 417.31 million. In April, according to Mysteel data, the inventory of commercial pigs in large - scale farms increased by 0.10% month - on - month and 6.28% year - on - year, while that in small and medium - sized farms decreased by 0.91% month - on - month but increased by 10.98% year - on - year [46]. - **Slaughter Volume and Weight**: In April, the slaughter volume of commercial pigs in large - scale farms increased by 4.46% month - on - month and 26.58% year - on - year, and that in small and medium - sized farms increased by 4.09% month - on - month and 74.89% year - on - year. The average slaughter weight remained unchanged from last week [49]. 3.3.2 Industry Profit - **Pig Breeding Profit**: As of May 9th, the breeding profit of purchased piglets was 58.46 yuan/head, an increase of 9.92 yuan/head from the previous week, and the breeding profit of self - bred and self - raised pigs was 84.33 yuan/head, a decrease of 0.71 yuan/head from the previous week [54]. - **Poultry Breeding Profit**: As of May 9th, the poultry breeding profit was - 0.30 yuan/head, and the weekly loss increased by 0.15 yuan/head [54]. 3.3.3 Domestic Market - **Pork Imports**: From January to March 2025, China imported 280,000 tons of pork, a year - on - year increase of 7.69%, but it was at a historically low level [59]. 3.3.4 Substitute Products - **White - Striped Chicken Price**: As of the week of May 9th, the price of white - striped chicken was 13.7 yuan/kg, an increase of 0.1 yuan/kg from the previous week [62]. - **Standard - Fat Pig Price Difference**: As of the week of May 8th, the average price difference between standard and fat pigs was 0.03 yuan/kg, an increase of 0.02 yuan/kg from the previous week [62]. 3.3.5 Feed Situation - **Feed Ingredient Prices**: As of May 8th, the spot price of soybean meal was 3,358.29 yuan/ton, a decrease of 186.28 yuan/ton from the previous week. As of May 9th, the corn price was 2,363.14 yuan/ton, an increase of 49.61 yuan/ton from the previous week [68]. - **Feed Index and Price**: As of May 9th, the closing price of the Dalian Commodity Exchange pig feed cost index was 948.95, a decrease of 0.26% from the previous week. The price of finishing pig compound feed was 3.37 yuan/kg, remaining unchanged from the previous week [72]. - **Feed Production**: As of March 2025, the monthly feed production was 27.772 million tons, an increase of 1.428 million tons year - on - year [76]. 3.3.6 CPI - As of March 2025, China's CPI decreased by 0.1% year - on - year, and the decline narrowed by 0.6 percentage points compared with the previous month [80]. 3.3.7 Downstream Situation - **Slaughterhouse Operating Rate and Inventory**: In the 19th week, the slaughterhouse operating rate was 28.54%, a decrease of 0.41 percentage points from the previous week and an increase of 0.35 percentage points year - on - year. The frozen product storage rate of key slaughterhouses remained unchanged from the previous week [83]. - **Slaughter Volume and Catering Consumption**: As of March 2025, the slaughter volume of designated pig slaughterhouses was 30.63 million, an increase of 40.7% from the previous month. In March 2025, the national catering revenue was 423.55 billion yuan, a year - on - year increase of 5.6% [88]. 3.3.8 Pig - Related Stocks - The report mentions the stock trends of Muyuan Co., Ltd. and Wens Co., Ltd., but no specific data is provided [89].

新五丰（600975）公告，2025年4月公司销售生猪40.81万头，同比增长36.31%；商品猪销价为14.82元/ 公斤。1-4月累计销售生猪167.48万头。 ...

图为钱米劳夫妇与"新手"们探讨胚胎移植技术。中新网记者 张林虎 摄 从羊倌到专家：显微镜下的逆袭路 来源：中国新闻网 中新网乌兰察布5月9日电 题："神舟家园"牧民的跨界传奇：从羊倌夫妻到技术大拿 中新网记者 张林虎 他们曾是"靠天养羊"的普通牧人夫妻，却在羊圈和实验室之间摸爬滚打，硬生生掌握了连专业人士都赞 叹的胚胎移植技术。更令人称奇的是，这对只有初中文化的牧民伉俪，还将上百名大学生培养成技术骨 干，在四子王旗的草原上，书写了一段"逆袭传奇"。 四子王旗位于我国正北方，隶属于内蒙古自治区乌兰察布市，北与蒙古国接壤，国境线全长104公里， 总面积2.55万平方公里，因神舟飞船多次着陆于此，被誉为"神舟家园"。 四子王旗查干补力格苏木巴音嘎查的钱米劳、王巧红夫妇，曾经和当地大多数牧民一样，守着几十只羊 过着靠天吃饭的日子。年收入扣除开销后所剩无几，遇灾年甚至入不敷出。 20世纪90年代末，国内领先的肉羊育种企业赛诺牧业推行"政府+龙头企业+合作社+牧户"的经营模式， 在四子王旗草原上推广优质种羊胚胎移植技术，这成为改变钱米劳夫妇命运的转折点。 "刚开始连显微镜都不会用，就像看'天书'。"王巧红笑着回忆。当时企 ...

罗牛山：4月生猪销售收入1.25亿元，同比增长12.72% 金十数据5月9日讯，罗牛山公告，公司2025年4月销售生猪6.52万头，环比增长19.59%，同比下降 4.32%；销售收入12,492.74万元，环比增长14.59%，同比增长12.72%。2025年1-4月，公司累计销售生 猪20.80万头，同比下降19.96%；累计销售收入41,715.49万元，同比增长0.36%。 ...

中大猪需求减弱，猪价震荡运行 生猪观点 市场要闻与重要数据 日报 | 2025-05-09 策略 中性 风险 无 鸡蛋观点 市场要闻与重要数据 期货方面，昨日收盘生猪 2509合约13910元/吨，较前交易日变动-75.00元/吨，幅度-0.54%。现货方面，河南地区 外三元生猪价格15.08元/公斤，较前交易日变动+0.04元/公斤，现货基差 LH09+1170，较前交易日变动+115；江苏 地区外三元生猪价格 15.23元/公斤，较前交易日变动+0.00元/公斤，现货基差LH09+1320，较前交易日变动+75； 四川地区外三元生猪价格14.70元/公斤，较前交易日变动+0.00元/公斤，现货基差LH09+790，较前交易日变动+75。 据农业农村部监测，5月8日"农产品批发价格200指数"为115.84，比昨天下降0.80个点，"菜篮子"产品批发价格指数 为116.10，比昨天下降1.15个点。全国农产品批发市场猪肉平均价格为20.92元/公斤，比昨天下降0.5%；牛肉62.86 元/公斤，比昨天下降0.5%；羊肉59.75元/公斤，比昨天下降0.2%；鸡蛋7.92元/公斤，比昨天下降1.2%；白条鸡1 ...

天域生物（603717）公告，2025年4月公司销售生猪3.51万头，销售收入5932.95万元，环比变动分别 为-16.38%、-15.81%，同比变动分别为4.61%、25.66%。2025年1-4月，公司累计销售生猪14.76万头， 同比上升18.28%；累计销售收入2.34亿元，同比上升26.07%。2025年4月末，公司生猪存栏13.32万头， 同比上升3.38%，环比下降4.80%。 ...

生猪日报 | 2025-05-09 另存为PDF 【期价震荡调整】 【市场动态】 1、5月8日，生猪注册仓单705手； 2、LH2507合约以期现回归、交割博弈为主，远月矛盾仍在积累盘面震荡调整； 3、主力合约（LH2509）今日增仓1245手，持仓约7.34万手，最高价13985元/ 吨，最低价13865元/吨，收盘于13910元/吨。 1、观点：短期猪价或震荡，中长期来看猪价或仍有新低可能； 2、核心逻辑： 1） 从母猪、仔猪数据看，2025年二三四季度生猪出栏量均充裕，猪价暂无大 涨基础； 2）二三季度需求对猪价的支撑偏弱，难以支持猪价有明显涨幅； 3）现下生猪出栏体重仍在增加，说明养殖端仍在累库，利空后市，若后面出现 集中降重，猪价或出现新低； 4）虽然我们认为中长期看现货仍有新低可能，但由于其不确定性较高，且短期 市场降重驱动尚不强烈，盘面价格处于相对合理区间，建议暂时观望。 作者： 【基本面分析】 1、能繁母猪存栏量看，3-12月生猪供应量有望逐月增加，但幅度有限。仔猪数 据看，2025年二三季度生猪出栏量整体震荡增加；需求端来看，上半年较下半 年相比属需求淡季，下半年属需求旺季； 2、 从历史情 ...