redsnakeroulette| Pig futures LH2409 contract fell 2.31%: Nengfan sow stock fell 7.3% Corn C2407 contract rose slightly 0.12%

Newsletter summary

Live pig futures LH2409 contract fell 2.Redsnakeroulette.31%, the spot is adjusted within a narrow range, and the market is light. At the end of March, the stock of fertile sows nationwide decreased by 7.3%. It is expected that the market supply and demand will improve in the second quarter, and breeding is expected to reverse losses. Corn futures C2407 contract rose 0.12%, northeast spring ploughing preparation, North China trader shipments increased, farmers' grain sales progress was 3% slower than the same period last year, short-term corn under the limited space.

Text of news flash

Pig futures weakened and corn prices rose slightly.

The performance of the live pig futures market was poor, with the LH2409 contract down 2.31% from the previous month, and the national spot pig market also showed a narrow adjustment trend. The market turnover was sluggish, and the overall mood fell somewhat.

In spite of this, industry insiders pointed out that at the end of March, the stock of fertile sows nationwide reached 39.92 million, down 7.3% from the same period last year, showing a downward trend for nine consecutive months, compared with 102.4% of the normal stock, which is in a green and reasonable area of production capacity regulation. Accordingly, the industry predicts that with the gradual appearance of the effect of pig production capacity, the relationship between market supply and demand will be further optimized in the second quarter, which is expected to turn losses into profits. In addition, as the May Day holiday approaches, the downstream stock market will provide some support for pig prices.

At the same time, the corn futures market performed relatively steadily, with the C2407 contract rising 0.12% month-on-month. The preparations for spring ploughing in Northeast China began, the supply of dry grain gradually increased, and traders reduced prices and promoted sales, resulting in a slight reduction in local quotations. The shipment volume of traders in North China has increased, the market supply is adequate, and the purchase price of corn continues to decline.

On the demand side, due to the adequate supply of raw materials, the opening rate of the corn starch industry has increased.RedsnakerouletteThe equipment of some alcohol enterprises resumed operation, and the operating rate of the industry increased slightly. However, feed enterprises have limited willingness to purchase and mainly rely on contract orders. According to the statistics of the Mysteel corn team, as of April 18, the progress of grain sales by farmers in 13 provinces across the country was 88%, lagging behind 3% compared with the same period last year, while the progress of grain sales by farmers in seven major producing provinces was also 87%, 3% slower than the same period last year.

Comprehensive analysis, the domestic grass-roots grain surplus continues to reduce, supported by the cost of building a warehouse, the short-term room for the decline of corn prices is limited. The market is concerned about the performance near 2400 points. In addition, under the influence of Argentine crops and the situation in the Black Sea, the price of the outer disk is strong, which also gives a positive boost to the domestic market.