Shouchuang Futures: Live pigs continue to plummet, affected by two soybean meal futures

Today, the domestic soybean meal and soybean oil continued to show a weak and volatile trend, with slight declines. Overnight, the premium and discount of US soybeans and Brazilian soybeans fluctuated, with the cost side performing relatively steadily. Today, the overseas markets are closed, and the domestic market lacks external guidance during the day. The downstream breeding sector remains weak, with live hog futures dropping over 2% again today. The ongoing weakness has dragged down the feed sector, and both corn and soybean meal futures are showing a generally weak trend. The market is concerned that the full industry loss situation for pigs will accelerate the liquidation of inventories and capacity in the later stages, further reducing feed demand. Overall, the domestic fundamentals for soybean meal are weakening, but the cost side remains firm. After prices fall to low levels, excessive shorting is not advisable. (First Capital Futures)