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Group 1: Report Industry Investment Ratings - Investment rating for the pig industry: Cautiously bearish [4] - Investment rating for the egg industry: Neutral [6] Group 2: Core Views of the Report - The current pig market is in a situation of weak supply and demand. Spot prices remain firm due to secondary fattening, but as temperatures rise, consumption of white - striped pork is difficult. Short - term pig prices are expected to fluctuate, and there is a risk of price decline in the medium to long term [3] - Near the May Day holiday, there is restocking demand from supermarkets and e - commerce platforms. Extreme weather has increased consumer purchases, and inventories have been cleared. However, high spot prices may suppress consumption, and traders are more cautious due to concerns about egg storage as temperatures rise. Short - term egg prices are expected to fluctuate [5] Group 3: Summary by Related Catalogs Pig Market Market News and Important Data - Futures: The closing price of the live pig 2509 contract yesterday was 14,555 yuan/ton, up 90 yuan/ton (+0.62%) from the previous trading day [2] - Spot: In Henan, the price of external ternary live pigs was 15.07 yuan/kg, up 0.04 yuan/kg; in Jiangsu, it was 15.24 yuan/kg, down 0.08 yuan/kg; in Sichuan, it was 14.75 yuan/kg, up 0.11 yuan/kg [2] - Agricultural product wholesale prices on April 21: The "Agricultural Product Wholesale Price 200 Index" was 118.82, down 0.21 points from last Friday; the "Vegetable Basket" product wholesale price index was 119.84, down 0.23 points. The average price of pork in the national agricultural product wholesale market was 20.96 yuan/kg, up 0.5% [2] Market Analysis - The pig market is in a state of weak supply and demand. Secondary fattening supports spot prices, but consumption is weakening. Short - term prices will fluctuate, and there is a risk of decline in the medium to long term [3] Strategy - Cautiously bearish [4] Egg Market Market News and Important Data - Futures: The closing price of the egg 2506 contract yesterday was 3047 yuan/500 kg, down 31 yuan (-1.01%) from the previous trading day [4] - Spot: In Liaoning, the egg spot price was 3.51 yuan/jin, unchanged; in Shandong, it was 3.60 yuan/jin, unchanged; in Hebei, it was 3.27 yuan/jin, down 0.02 yuan [4] - Inventory: On April 21, the national production - link inventory was 1.05 days, down 0.05 days from the previous trading day; the circulation - link inventory was 1.39 days, down 0.03 days [4] Market Analysis - Near the May Day holiday, restocking demand and extreme weather have increased consumption, but high prices may suppress demand. Traders are cautious due to temperature concerns. Short - term egg prices are expected to fluctuate [5] Strategy - Neutral [6]