On January 8, breed of futures of complete a business transaction of first live body of our country -- hog futures contract is in Dalian Commodity Exchange (place of abbreviation big business) appear on the market trade. Express inside course of study, of hog futures roll out, will conduce to price of perfect live pig forming risk of main body of market of mechanism, promotion to run ability and development of estate of the live pig that help strength.
Regular: Single-handed 16 tons, add up to live pig about 135
Live pig is our country value is the greatest farming by-product, market dimensions already was achieved 2 trillion the left and right sides, industrial catenary involves feed a lot of industry such as treatment of vaccine of drug of treatment, animal, butcher, food, content shedding, retail, meal. In Feburary 2018, card inspect can approve application of project approving of futures of hog of big business place; Last year April, card inspect can approve big business place to begin hog futures to trade. Nowadays, hog futures appears on the market formally eventually.
Basis on December 31, 2020, the hog futures contract that big business place announces formally reachs relevant executive detailed rules. Consult habit of option market design and characteristic of hog spot market, of hog futures trade unit and unit of complete a business transaction are installed it is 16 tons / hand, add up to live pig about 135, the car of pig of carry of 9.6 meters of three-layer of the mainstream in be equivalent to commerce of merchandise on hand the traffic of one car.
According to give column live pig to make an appointment with 30000 yuan at present / ton price computation, the value of 1 hand agreement is 480000 yuan about, according to the bail scale computation of 5% , bail is 24000 yuan about. The smallest fluctuant unit of hog futures is 5 yuan / ton. Contract month respect, setting of month of hog futures contract is 1, 3, 5, 7, 9, in November.
The hog futures contract that big business place announced on January 7 hangs dish of fiducial price to show, LH2109 agreement 30680 yuan / ton, LH2111 agreement 29680 yuan / ton, LH2201 agreement 28680 yuan / ton, what trade respectively will be September 2021, will mix in November 2021 January 2022 the market price case of the portion.
Appear on the market first days, brunt agreement 2109 low exceed 3% . Up to midday dish, drop already amounted to 10% .
Risk of wave motion of spot price of futures tool avoid
Why should appear on the market hog futures? Does hog futures appear on the market to have He Yiyi to industrial development? To this, chief expresses related big business place, long-term since, price of our country live pig is fluctuant and acuteness and frequent, to raise breed door and industrial company production to manage bring huge uncertainty, profit is stabilized hard, the market manages the cry step up of the tool to rolling out relevant risk. Here setting falls, appear on the market long-term to live pig industry steady progress has hog futures principal port, will drive development of live pig estate to enter new level.
After hog futures appears on the market, dregs of rice with corn, beans wait for futures period to counterpoise one case, formed from main feedstuff cultivate, treatment arrives breed wait for relatively complete industrial chain risk to run a system, of all kinds main body can use the live pig property such as trafficker of enterprise of live pig breed aquatics, butcher treatment company, pork the risk with fluctuant spot price of futures tool avoid, increase the stability of battalion of already of each link look forward to on industrial catenary and growth thereby but durative.
In the meantime, hog futures will be offerred for the market open, transparent consult with successive price, this is helpful for breeding an enterprise to optimize resource configuration, reasonable control to breed dimensions, promote whole industry health to develop. The government sector also can hold the metabolic trend of hog market supply demand relations according to signal of option market price, thereby more specific aim ground makes policy of macroscopical adjusting control, industry of science guiding live pig adjusts the dimensions that production manages and direction, country of the implementation that help strength is macroscopical target of economic adjusting control.
In addition, hog futures appears on the market conduce to popularize in live pig industry " safe + futures " wait for business innovation, offer the price for relevant business fiducial, enhance financial orgnaization to serve " 3 farming " range, deepness and strength.
Futures price rises drop a will main referenced spot price
To the relation of hog futures and live pig spot price, respect of big business place introduces, after hog futures appears on the market, futures price rises drop extent basically returns extent of wave motion of will referenced spot price. In the meantime, futures price rises drop extent still basically will reflect range of spot price wave motion.
Additional, futures price will react integratedly the orgnaization of enterprise of merchandise on hand, investment judgement circumstance that participates in main body to give birth to pig price to future. Hog futures contract and regular design very merchandise on hand of press close to is actual circumstance, control of flow of standard of the content that passes mark, quality, complete a business transaction, wind is spent wait for each respect the design that standardization, system changes, come to what better report spot price did not come anticipate, undertake covering for industrial client period protected a value to provide effective tool.
In addition, spot price represents current supply demand relations, futures price represents the prospective supply demand relations that the market forecasts. Accordingly, live pig is fresh between the price and the futures price that expect on behalf of prospective value, also can appear sometimes abhorrent circumstance.
Picture origin: Net of boreal evening new visual sense, Oriental fortune
Client of origin Beijing daily is carried | Reporter Sun Jie
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