Ruida Futures: Emotions and fundamentals are in a tug of war, short-term frequent fluctuations in pork prices.

Futures report on April 24th: This week, the price of live pigs has fluctuated and increased, with the main contract 2605 contract increasing by 1.11% weekly. Recently, the reluctance of large-scale farms to sell and the increased sentiment of re-entering the market for secondary fattening have temporarily eased the supply shortage. In addition, with the anticipation of frozen products entering the market and stockpiling ahead of the May Day holiday, the spot prices have remained stable with a slight upward trend, focusing on the pace of slaughter and the situation of re-entering the market for secondary fattening. However, based on the speculation of production capacity, there is still supply pressure in the near future, and the acceptance of price increases by consumers is not high, leading to limited growth in demand and a lingering oversupply situation. Overall, in a market with bullish sentiments and short-term supply-demand dynamics, the short-term stability of live pig prices may slightly lean towards a stronger adjustment, but may be accompanied by frequent fluctuations. From a fundamental perspective, the current support for a sustained increase in live pig prices is insufficient.