[The increase in supply exceeds the increase in demand, and pig prices are under pressure before the holidays] September 23rd, as the Mid-Autumn Festival and National Day are approaching, the price trend of the live pig market has not improved due to the boost in demand. Since late August, domestic pig futures prices have continued to bottom out. In the intraday session on September 22, the main live pig futures contract 2611 reported as low as 10,865 yuan/ton, down more than 9% from the beginning of the month, and the largest drop during the year was more than 22%. Although the market demand for live pigs has picked up recently, the increase in supply exceeds the increase in demand, and pig prices are under pressure to decline. However, relevant data shows that the depletion of pig production capacity accelerated in the third quarter. Entering the second half of the month, the double festival centralized stocking is in full swing, terminal demand is recovering rapidly, the supply and demand pattern is improving in the short term, and pig prices are expected to stop falling and rebound. (Securities Times)