来源：市场资讯 （来源：博亚和讯） | 座区 | 日前 | | 外三元生猪价格(元/kg) | | | 外三元.仔猪(元/kg.20kg体重) | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 2025年 | 12月22日 | 12月23日 | 趋势 | 12月22日 | 12月23日 | 趋势 | | | 黑龙江 | 11.11 | 11.21 | 7 | 17.10 | 17.10 | -> | | 东北 | 吉林 | 11.00 | 11.25 | 7 | 17.06 | 17.06 | - | | | 辽宁 | 11.30 | 11.35 | 1 | 17.21 | 17.10 | 7 | | | 北京 | 11.90 | 11.75 | 7 | 18.98 | 18.98 | -> | | | 天津 | 11.90 | 11.75 | 7 | 18.94 | 18.94 | → | | स्रूनी | 河北 | 11.86 | 11.71 | 7 | 18.90 | 18.90 | → | | | 山西 | 11.60 | 11.5 ...

Core Insights - The overall price of external three yuan pigs in China increased by 0.05 yuan/kg to 11.38 yuan/kg on December 10, 2025, while the average price of piglets decreased by 0.05 yuan/kg to 19.07 yuan/kg [1][2] - The market sentiment is cautiously optimistic due to recovering consumption in both northern and southern regions, alongside expectations of increased supply pressure as large-scale farms aim to meet annual slaughter targets [2][3] Price Trends - The average price of external three yuan pigs across various regions shows slight increases or stability, with notable price changes in specific areas such as Liaoning (+0.10 yuan/kg) and Sichuan (+0.20 yuan/kg) [1] - The average price of white strip meat rose by 0.01 yuan/kg to 15.06 yuan/kg, indicating a slight upward trend in meat prices [1] Market Dynamics - The market is experiencing a mixed sentiment with expectations of both price increases and decreases, influenced by weather changes and consumer demand [2][3] - The pig feed ratio is reported at 3.43:1, which has increased by 0.02 from the previous day, reflecting changes in feed costs [1]

持窄幅震荡调整。今日市场情绪看稳、看涨、看跌并存，预计明日猪价涨跌调整，关注规模场出栏节奏 与疫病发展情况。 据博亚和讯监测，2025年12月9日全国外三元生猪均价为11.32元/kg，较昨日上涨0.04元/kg；仔猪均价 为19.12元/kg，较昨日下跌0.07元/kg；白条肉均价15.05元/kg，较昨日下跌0.03元/kg；今日猪料比为 3.41:1，较昨日增加0.01。 今日猪价延续震荡偏强走势，北方地区跌势趋缓企稳，仅东北等局部仍现微幅下调，南方地区稳中偏强 调整，全国均价上涨0.04元/kg。近期猪价处于低位，随着天气转冷，南方腌腊需求逐步增加，对市场 情绪形成提振，华南、西南等地猪价上涨较为明显；北方地区虽家庭消费亦有增长，但近期疫病风险有 所抬头，促使养殖端出栏积极性增强，市场呈现供需双增格局，制约猪价上涨空间。短期来看，气温下 降及冬至等节日临近将继续利好消费端，但伴随需求回暖，供应端亦有加速出栏的迹象，预计猪价将保 来源：市场资讯 （来源：博亚和讯） | 地区 | 日前 | | 外三元生猪价格(元/kg) | | | 外三元.仔猪(元/kg.20kg体重) | | | --- | --- ...

Group 1 - The average price of external three yuan live pigs in China on December 5, 2025, is 11.20 yuan/kg, a slight decrease of 0.02 yuan/kg from the previous day [1] - The average price of piglets is 19.26 yuan/kg, which increased by 0.01 yuan/kg compared to the previous day [1] - The average price of white strip meat is 15.11 yuan/kg, down by 0.01 yuan/kg from the previous day [1] Group 2 - Prices in North China, Northwest, and East China are stabilizing and showing slight increases, while South China and Southwest regions are experiencing narrow declines [2] - The supply side is characterized by a reluctance to sell and a hopeful sentiment for price increases, supporting the stabilization of prices in the northern regions [2] - The overall market sentiment is mixed, with expectations for tomorrow's prices to remain in a narrow range of fluctuations [3]

Group 1 - The average price of external three yuan live pigs in China on December 3, 2025, is 11.28 yuan/kg, a decrease of 0.11 yuan/kg from the previous day [1] - The average price of piglets is 19.24 yuan/kg, which has increased by 0.01 yuan/kg compared to the previous day [1] - The average price of white strip meat is 15.18 yuan/kg, down by 0.07 yuan/kg from the previous day [1] Group 2 - The overall market for pig prices is experiencing a weak adjustment, with a nationwide average decline of 0.11 yuan/kg, and some regions like Guizhou and Xinjiang have fallen below 11 yuan/kg [2] - Despite a slight recovery in terminal demand due to falling temperatures, the overall market remains under pressure due to a relaxed supply of live pigs [2] - The sentiment in the market is mixed, with expectations of a narrow fluctuation in pig prices in the short term, influenced by the rhythm of large-scale farm sales and the development of winter disease [3]

Group 1 - The average price of external three-yuan live pigs in China on December 2, 2025, is 11.39 yuan/kg, a decrease of 0.06 yuan/kg from the previous day [1] - The average price of piglets is 19.23 yuan/kg, an increase of 0.02 yuan/kg from the previous day [1] - The average price of white strip meat is 15.25 yuan/kg, a decrease of 0.07 yuan/kg from the previous day [1] Group 2 - The market sentiment is weak, particularly in the northern regions, leading to a decline in pig prices [2] - Despite attempts to raise prices at the beginning of the month, the market response has been limited, resulting in a lack of upward momentum in pig prices [2] - The supply side is experiencing a strong release, while demand remains weak, leading to a short-term market outlook of strong supply and weak demand [2][3] Group 3 - The price gap between northern and southern regions is widening, which may increase the volume of pig source transfers from the north [3] - The market sentiment is mixed, with expectations of a stable yet weak adjustment in pig prices in the coming days [3]

Core Viewpoint - In November, the fluctuation in live pig prices and the improvement in pork demand led to a slight recovery in slaughtering profits, with expectations for further increases in December [1][6]. Group 1: Slaughtering Profit Analysis - As of November 28, the slaughtering profit for live pigs was 43.97 yuan per head, an increase of 11.85 yuan per head from the end of October, representing a growth of 36.89%. However, the average for the month was only 38.28 yuan per head, a decrease of 2.93% month-on-month, but an increase of 53.25% year-on-year [1]. - The improvement in the sales of pork products was a key factor driving the increase in slaughtering profits [1]. Group 2: Price Movements - The decline in meat prices was smaller than the decrease in pig prices, leading to an expanded price difference that supported the rise in slaughtering profits. By the end of November, the national white meat price was 14.72 yuan per kilogram, down 7.23% from the end of October, while the average trading price of live pigs was 11.11 yuan per kilogram, down 10.69% [3]. - The average price of white meat in November was 15.15 yuan per kilogram, a month-on-month increase of 0.40 yuan, or 2.73%, while the average price of live pigs was 11.59 yuan per kilogram, a slight increase of 0.07 yuan, or 0.60% [3]. Group 3: Slaughtering Volume Trends - In November, the daily slaughter volume of live pigs showed a fluctuating increase, with an average daily slaughter volume up 1.27% compared to October, and a cumulative increase of 6.97% from the end of October [4]. - The first half of November saw limited growth in slaughter demand, but the situation improved in the second half of the month as temperatures dropped, leading to better sales of pork products and an increase in slaughter volume [4]. Group 4: Outlook for December - Looking ahead to December, historical patterns and current stocking conditions suggest that slaughter volumes may reach their highest peak outside of the Spring Festival, with operational rates expected to increase by 10-15 percentage points compared to the beginning of the month [6]. - The anticipated increase in terminal market demand and improved sales of white meat are expected to widen the price gap with live pig prices, enhancing profit margins for slaughtering [6].

Core Insights - The average price of external three yuan pigs in China increased to 11.45 yuan/kg as of December 1, 2025, reflecting a rise of 0.26 yuan/kg from the previous week [1] - The average price of piglets rose to 19.20 yuan/kg, up by 0.02 yuan/kg from last week [1] - The average price of white strip meat reached 15.32 yuan/kg, an increase of 0.17 yuan/kg compared to last week [1] Price Trends - The pig feed ratio is currently at 3.45:1, which is an increase of 0.08 from last week [1] - The southern region experienced a more significant price increase, contributing to the overall national average rise [1] - Market sentiment improved due to a combination of factors, including reduced supply from large-scale farms and seasonal temperature drops in the northern region, which are favorable for the cured meat market [1] Market Outlook - Short-term expectations indicate a gradual recovery in consumer demand as temperatures drop, although the supply from large-scale farms is beginning to increase [1] - Current temperature conditions are not sufficient to support a peak in cured meat demand, leading to limited upward movement in white strip meat prices [1] - The price difference between live pigs and white strip meat remains below 4 yuan/kg, indicating limited order growth from slaughter enterprises [1] - Market sentiment is mixed, with expectations of weak adjustments in pig prices in the coming days, influenced by the outflow rhythm from large-scale farms and the sales situation of white strip meat [1]

Group 1 - The average price of external three yuan live pigs in China increased to 11.66 yuan/kg on November 19, 2025, up by 0.07 yuan/kg from the previous day [1][2] - The average price of piglets rose to 19.12 yuan/kg, an increase of 0.01 yuan/kg, while the average price of white strip meat reached 15.49 yuan/kg, up by 0.02 yuan/kg [1][2] - The pig feed-to-meat ratio is now 3.50:1, which is an increase of 0.02 from the previous day [1] Group 2 - The northern pig prices generally experienced slight increases, while the southern market remained stable, contributing to the national average price rise [2][3] - The recent drop in temperatures has led to a slight recovery in terminal consumption, with an increase in slaughterhouse operating rates, boosting the optimism among breeders [2] - Despite the upward trend in prices, the overall supply of live pigs in November remains relatively high, and demand growth is limited, indicating that the price increase is largely driven by sentiment rather than fundamental supply-demand dynamics [2][3]

Core Insights - The average price of external three yuan live pigs in China increased by 0.02 yuan/kg to 11.59 yuan/kg on November 18, 2025, while the average price of piglets rose by 0.03 yuan/kg to 19.11 yuan/kg [1][2] - The market sentiment is mixed, with some regions experiencing slight price adjustments, but overall, the market remains in a "strong supply, weak demand" situation [2] Price Trends - The average price of external three yuan live pigs across various regions shows slight increases, with notable prices including: - Heilongjiang: 11.71 yuan/kg - Guangdong: 12.21 yuan/kg - Shanghai: 11.95 yuan/kg [1] - The average price of piglets also varies by region, with the highest price in Guangdong at 20.28 yuan/kg [1] Market Dynamics - The recent drop in temperatures has led to increased optimism among farmers, with some engaging in limited curing activities in southern regions [2] - Despite the positive sentiment, overall consumption remains weak, impacting the sustainability of price increases [2] - The risk of disease in pig herds is rising with the temperature drop, which may lead to earlier market exits by farmers for disease control [2]