pokergamesnearme| Pig futures rose 1.02% weekly, corn futures fluctuated in a narrow range

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Week 20, 2024PokergamesnearmeThe main contract of live pig futures, LH2409, rose by 1% in the week.Pokergamesnearme.02%PokergamesnearmeThe national average price at the spot end increased by 2. 5% month-on-weekPokergamesnearme.16%. C2407, the main contract for corn futures, rose 0.24% in a week, while the spot average price fell 12.56% from a year earlier. The spot prices of live pigs and corn are expected to be on the high side, so investors are advised to pay attention to the entry of secondary fattening and the willingness of traders to ship.

Text of news flash

[pig futures prices continue to rise, the spot market performance is strong] the latest data show that in the 20th week of 2024, the main pig futures contract LH2409 showed a strong operation trend. As of Friday, the closing price had reached 18255 yuan per ton, a weekly increase of 1.02% compared with last week. At the same time, in the spot market, the weekly average price of live pigs across the country has also risen, rising by 2.16% and 7.77% compared with the same period last year.

In the analysis of the fundamentals of supply and demand, the source of pig stocks has been observed to show a downward trend. Although the group farm faces a certain pressure in the last ten days, the continuous entry of secondary fattening effectively intercepts part of the pig source, so that the supply pressure does not appear to be too great. However, on the demand side, as it is the traditional off-season, terminal consumption does not show a strong growth momentum, especially in the context of rising temperatures, the consumption of big pigs in the south is not booming, and the increment of pork consumption is limited. In spite of this, the market's higher-than-expected rise in spot still shows strong expectations, which brings a positive signal to the multi-holder of 07 and 09 contracts.

[corn futures market rose steadily, spot prices rose month on month] in the corn market, in the 20th week of 2024, the main corn futures contract C2407 showed a narrow shock trend, Friday's closing price was 2459 yuan / ton, an increase of 0.24% during the week. On the spot market, the weekly average price of corn across the country reached 2357 yuan / ton, up 16 yuan / ton from the previous week. Although it is still down 12.56% from the same period last year, the market has shown signs of gradual recovery.

On the supply side, the progress of grain sales across the country has reached 94%, of which the progress of grain sales in Northeast China is 95%, and that in North China is slightly slower, at 90%. With the gradual transfer of grass-roots food sources in the producing areas to trade links, and the beginning of spring ploughing and spring sowing activities, the bullish mood of traders is increasing, resulting in a decline in the willingness to ship goods. On the demand side, although the purchasing of feed enterprises is still cautious and the inventory is maintained at the level of about 30 days, due to the strengthening of the bullish mentality of the market, although the deep processing enterprises try to raise prices and buy, the willingness of traders to ship goods is still not high, which leads to a rapid reduction of inventory in deep processing enterprises.

In view of the current market conditions, traders are gradually becoming the main suppliers of the market. With the consumption of the market, the late supply is expected to show a downward trend. Although feed demand is still low, restraining price fluctuations, it is expected that the futures market will continue to be strong and volatile, and multi-single holders of 07 contracts can continue to be optimistic.