Group 1: Stock Indices - The Shanghai Composite Index closed on December 5, rising by 27.01 points, an increase of 0.70%, to a total of 3902.81 points [5] - The Shenzhen Component Index closed on December 5, increasing by 140.96 points, a rise of 1.08%, to a total of 13147.68 points [5] - The CSI 300 Index closed on December 5, up by 37.97 points, an increase of 0.84%, reaching 4584.54 points [5] - The ChiNext Index closed on December 5, rising by 41.81 points, a gain of 1.36%, to a total of 3109.30 points [5] - The STAR 50 Index closed on December 5, down by 0.06 points, remaining flat at 1326.10 points [5] Group 2: Commodity Indices - The document includes various commodity indices such as live pigs, lithium carbonate, glass, soybean meal, red dates, crude oil, rebar, silver, cotton, palm oil, soda ash, coking coal, white sugar, PVC, PTA, and rubber, but specific data for these commodities is not provided in the excerpts [7][9][12][14][17][20][22][24][26][28][30][31][33]

Commodity Index - The article discusses the performance of various commodity indices, indicating a focus on market trends and price movements [1][40]. Stock Indices - The Shanghai Composite Index closed at 3875.79 points, down 2.21 points or 0.06% on December 4 [5][45]. - The Shenzhen Component Index increased by 51.46 points, a rise of 0.40%, closing at 13006.72 points [5][45]. - The CSI 300 Index rose by 15.52 points, up 0.34%, ending at 4546.57 points [5][45]. - The ChiNext Index saw an increase of 30.70 points, up 1.01%, closing at 3067.48 points [5][45]. - The STAR 50 Index closed at 1326.16 points, up 17.80 points or 1.36% [5][46].

Commodity Index - The article discusses the performance of various commodity indices, indicating a focus on market trends and price movements [1]. Stock Indices - The Shanghai Composite Index closed at 3878.00 points, down 19.71 points or 0.51% on December 3 [5]. - The Shenzhen Component Index closed at 12955.25 points, down 101.45 points or 0.78% on the same day [5]. - The CSI 300 Index closed at 4531.05 points, down 23.29 points or 0.51% [5]. - The ChiNext Index closed at 3036.79 points, down 34.36 points or 1.12% [5]. - The STAR Market 50 Index closed at 1308.37 points, down 11.79 points or 0.89% [5].

Group 1: Stock Indices - The Shanghai Composite Index closed down by 16.29 points, a decrease of 0.42%, ending at 3897.71 points on December 2 [4] - The Shenzhen Component Index fell by 90.01 points, down 0.68%, closing at 13056.70 points [4] - The CSI 300 Index decreased by 22.15 points, a drop of 0.48%, finishing at 4554.33 points [4] - The ChiNext Index declined by 21.35 points, down 0.69%, closing at 3071.15 points [4] - The STAR Market 50 Index fell by 16.60 points, a decrease of 1.24%, ending at 1320.16 points [4] Group 2: Commodity Indices - The document includes various commodity indices such as lithium carbonate, soybean meal, and crude oil, but specific data points are not provided in the excerpts [5][7][10]

Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating. 2. Core View - The report provides a comprehensive analysis of the pig market, including price, trading volume, open interest, and spread data, as well as market information and trend strength [1][2][3]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - **Price Data**: The Henan spot price is 11,730 yuan/ton with a year - on - year increase of 250 yuan/ton; the Sichuan spot price is 11,250 yuan/ton with a year - on - year increase of 200 yuan/ton; the Guangdong spot price is 11,460 yuan/ton with no year - on - year change. For futures, the prices of contracts 2511, 2601, and 2603 are 11,525 yuan/ton, 12,235 yuan/ton, and 11,615 yuan/ton respectively, with year - on - year increases of 115 yuan/ton, 80 yuan/ton, and 45 yuan/ton [1]. - **Trading Volume and Open Interest**: The trading volume of contract 2511 is 21,548 lots, a decrease of 14,382 lots from the previous day; the open interest is 21,941 lots, a decrease of 6,208 lots from the previous day. For contract 2601, the trading volume is 132,739 lots, a decrease of 16,289 lots from the previous day, and the open interest is 103,162 lots, an increase of 607 lots from the previous day. For contract 2603, the trading volume is 28,717 lots, a decrease of 2,267 lots from the previous day, and the open interest is 83,188 lots, an increase of 1,905 lots from the previous day [1]. - **Spread Data**: The basis of contract 2511 is 205 yuan/ton with a year - on - year increase of 135 yuan/ton; the basis of contract 2601 is - 505 yuan/ton with a year - on - year increase of 170 yuan/ton; the basis of contract 2603 is 115 yuan/ton with a year - on - year increase of 205 yuan/ton. The spread between contracts 11 - 1 is - 710 yuan/ton with a year - on - year increase of 35 yuan/ton, and the spread between contracts 1 - 3 is 620 yuan/ton with a year - on - year increase of 35 yuan/ton [1]. 3.2 Market Information - Yuexiu and Yangxiang have added delivery warehouses [2]. 3.3 Trend Strength - The trend strength is 0, indicating a neutral view. The trend strength ranges from - 2 (most bearish) to 2 (most bullish) [3].

1. Report Industry Investment Rating - The report does not provide an industry investment rating. 2. Core View of the Report - The supply of live pigs is postponed, and the price center continues to move down [1]. 3. Summary According to Relevant Catalogs 3.1 Fundamental Tracking - **Spot Prices**: The spot price of live pigs in Henan is 11,280 yuan/ton, in Sichuan is 10,800 yuan/ton, and in Guangdong is 11,460 yuan/ton, with year - on - year increases of 150 yuan/ton, 150 yuan/ton, and 100 yuan/ton respectively [1]. - **Futures Prices**: The prices of live pig futures contracts 2511, 2601, and 2603 are 11,165 yuan/ton, 11,905 yuan/ton, and 11,540 yuan/ton respectively, with year - on - year decreases of 235 yuan/ton, 290 yuan/ton, and 125 yuan/ton respectively [1]. - **Trading Volume and Open Interest**: The trading volume of live pig futures contract 2511 is 33,489 lots, a decrease of 9,492 lots from the previous day, with an open interest of 41,232 lots, a decrease of 3,573 lots. The trading volume of contract 2601 is 80,026 lots, an increase of 28,549 lots, with an open interest of 105,012 lots, an increase of 14,112 lots. The trading volume of contract 2603 is 16,872 lots, an increase of 951 lots, with an open interest of 77,419 lots, an increase of 1,948 lots [1]. 3.2 Market Information - Shennong's Yunnan and Guangxi warehouses registered 90 lots of warehouse receipts, and Guizhou Zhenfeng Fuyuan registered 21 lots of warehouse receipts [2]. 3.3 Trend Intensity - The trend intensity is - 2, indicating the most bearish view [3]. 3.4 Futures Research - **Basis**: The basis of live pig futures contracts 2511, 2601, and 2603 are 55 yuan/ton, 365 yuan/ton, and - 165 yuan/ton respectively, with year - on - year changes of 115 yuan/ton, 385 yuan/ton, and - 625 yuan/ton [4]. - **Spreads**: The spreads of live pig futures contracts 11 - 1 and 1 - 3 are 440 yuan/ton and - 260 yuan/ton respectively, with year - on - year changes of 275 yuan/ton and - 740 yuan/ton [4].

Report Summary 1. Report Industry Investment Rating - No information provided on the industry investment rating. 2. Core View - The logic of secondary fattening has led to a downward shift in expectations for the hog market [1]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - **Spot Prices**: The Henan spot price is 11,130 yuan/ton, the Sichuan spot price is 10,650 yuan/ton, and the Guangdong spot price is 11,360 yuan/ton, all with a year - on - year increase of 100 [2]. - **Futures Prices**: The prices of hog futures contracts 2511, 2601, and 2603 are 11,400 yuan/ton, 12,195 yuan/ton, and 11,665 yuan/ton respectively, with year - on - year decreases of 50, 210, and 170 [2]. - **Trading Volume and Open Interest**: The trading volumes of hog futures contracts 2511, 2601, and 2603 are 42,981, 51,477, and 15,921 hands respectively, with decreases of 22,605, 5,785, and 2,048 hands compared to the previous day. The open interests are 44,805, 90,900, and 75,471 hands respectively, with changes of - 3,846, + 3,086, and + 4,275 hands compared to the previous day [2]. - **Price Spreads**: The basis of hog futures contracts 2511, 2601, and 2603 are - 270, - 1065, and - 535 yuan/ton respectively, with year - on - year increases of 150, 310, and 270. The spreads between contracts 11 - 1 and 1 - 3 are - 795 and 530 yuan/ton respectively, with year - on - year changes of 160 and - 40 [2]. 3.2 Market Information - Guizhou Zhenfeng Fuyuan registered 21 hands of warehouse receipts [3]. 3.3 Trend Intensity - The trend intensity is - 1, indicating a relatively bearish view. The range of trend intensity is an integer in the [-2, 2] interval, where - 2 is the most bearish and 2 is the most bullish [4].

Report Summary 1) Report Industry Investment Rating - No information provided on the industry investment rating. 2) Report's Core View - The spot price of live pigs has not reached the bottom, and attention should be paid to the basis convergence market [1]. 3) Summary by Relevant Catalogs Fundamental Tracking - **Price Data**: Henan spot price is 11,130 yuan/ton, down 100 yuan/ton year - on - year; Sichuan spot price is 10,750 yuan/ton, down 300 yuan/ton year - on - year; Guangdong spot price is 11,560 yuan/ton, down 300 yuan/ton year - on - year. For futures, the price of live pig 2511 is 11,320 yuan/ton, down 275 yuan/ton year - on - year; live pig 2601 is 12,140 yuan/ton, down 25 yuan/ton year - on - year; live pig 2603 is 11,960 yuan/ton, down 10 yuan/ton year - on - year [2]. - **Trading Volume and Open Interest**: The trading volume of live pig 2511 is 57,873 lots, an increase of 6,946 lots compared with the previous day, and the open interest is 60,392 lots, an increase of 2,056 lots compared with the previous day. The trading volume of live pig 2601 is 40,663 lots, a decrease of 53 lots, and the open interest is 88,892 lots, an increase of 4,102 lots. The trading volume of live pig 2603 is 15,122 lots, a decrease of 1,137 lots, and the open interest is 63,618 lots, an increase of 6,069 lots [2]. - **Spread Data**: The basis of live pig 2511 is - 190 yuan/ton, up 175 yuan/ton year - on - year; the basis of live pig 2601 is - 1,010 yuan/ton, down 75 yuan/ton year - on - year; the basis of live pig 2603 is - 830 yuan/ton, down 90 yuan/ton year - on - year. The spread between live pig 11 - 1 is - 820 yuan/ton, down 250 yuan/ton year - on - year; the spread between live pig 1 - 3 is 180 yuan/ton, down 15 yuan/ton year - on - year [2]. Trend Intensity - The trend intensity is - 2, indicating the most bearish view. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [3].

Report Summary Report Industry Investment Rating - No information provided on the report industry investment rating Report's Core View - The spot bottom of live pigs has not appeared, and the premium of near - month contracts is relatively large [1] - The trend intensity is -1, indicating a relatively bearish view [3] Summary by Relevant Catalog Fundamental Tracking - **Spot Prices**: Henan's live pig spot price is 11,330 yuan/ton, down 1,100 yuan; Sichuan's is 11,250 yuan/ton, down 650 yuan; and Guangdong's is 12,060 yuan/ton, down 650 yuan [2] - **Futures Prices**: The prices of live pig futures contracts 2511, 2601, and 2603 are 11,595 yuan/ton (down 700 yuan), 12,165 yuan/ton (down 620 yuan), and 11,970 yuan/ton (down 480 yuan) respectively [2] - **Trading Volume and Open Interest**: For the 2511 contract, the trading volume is 50,927 lots (down 7,793 lots) and the open interest is 58,336 lots (down 17,117 lots); for the 2601 contract, the trading volume is 40,716 lots (up 3,662 lots) and the open interest is 84,790 lots (up 8,369 lots); for the 2603 contract, the trading volume is 16,259 lots (up 1,932 lots) and the open interest is 57,549 lots (up 4,944 lots) [2] - **Price Differences**: The basis of contracts 2511, 2601, and 2603 are - 265 yuan/ton (down 400 yuan), - 835 yuan/ton (down 480 yuan), and - 640 yuan/ton (down 620 yuan) respectively; the 11 - 1 spread is - 570 yuan/ton (down 80 yuan), and the 1 - 3 spread is 195 yuan/ton (down 140 yuan) [2]

Report Summary 1) Report Industry Investment Rating - The trend strength is -2, indicating a strong bearish view. The range of trend strength is an integer within the [-2, 2] interval, with -2 being the most bearish and 2 being the most bullish [2]. 2) Report Core View - The report focuses on the pig market, highlighting that the spot price decline increased during the holiday, and it is a basis - closing market [1]. 3) Summary by Related Catalogs Fundamental Tracking - **Spot Prices**: The Henan spot price is 12,480 yuan/ton with a year - on - year increase of 50; the Sichuan spot price is 11,900 yuan/ton with a year - on - year increase of 0; the Guangdong spot price is 12,660 yuan/ton with a year - on - year decrease of 50 [1]. - **Futures Prices**: The prices of pig2511, pig2601, and pig2603 are 12,355 yuan/ton, 12,825 yuan/ton, and 12,480 yuan/ton respectively, with year - on - year increases of 60, 40, and 30 [1]. - **Trading Volume and Open Interest**: The trading volume of pig2511, pig2601, and pig2603 is 44,100 hands, 31,876 hands, and 9,786 hands respectively, with decreases of 14,620 hands, 5,178 hands, and 4,541 hands compared to the previous day. The open interest of pig2511, pig2601, and pig2603 is 61,105 hands, 76,877 hands, and 52,713 hands respectively, with changes of - 14,348 hands, + 456 hands, and + 108 hands compared to the previous day [1]. - **Basis**: The basis of pig2511 is 125 yuan/ton with a year - on - year decrease of 10 [1].