Market speculation cycle turning point, spot recovery supports pork prices.

Recently, hog futures have been trending strong. As of the close on April 20th, the main contract LH2607 closed at 11,275 yuan/ton, down 5 yuan/ton from last Friday but up nearly 8% on a weekly basis. The recent hog futures have been driven by the warming of the spot market and strong bottom-fishing sentiment. However, with a slight increase in group slaughter over the weekend, today's market has intensified the game between long and short positions. In general, the short-term spot prices have bottomed out, but the upward trend is not yet sustainable. The current price increase is not a result of a turning point in supply and demand, but rather a manifestation of bottom-fishing sentiment after a period of low prices. Both the spot and futures markets have seen temporary bottoms, with strong sentiment leading to a resonance in futures and spot prices. However, the pressure on the spot market has not fundamentally improved, so caution is advised in trading.