豆粕生猪：美农报告偏多 豆粕震荡企稳 朱皓天 zhuhaotian@jsfco.com 期货从业资格号：F03090081 投资咨询从业证书号：Z0016204 表 1：豆粕生猪期货日度数据监测 | | 会員期货 JIDGHI FILTUR | | | 粕 类 生 猪 每 日 数 据 追 踪 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 截至 | 尊位 | रेम | 昨日 | 涨跌 | 涨跌幅 | | 期货 | DCE豆粕: 01 | 4月11日 | 元/吨 | 3074 | 3066 | 8.00 | 0.26% | | | DCE豆粕: 05 | 4月11日 | 元/吨 | 2912 | 2896 | 16.00 | 0.55% | | | DCE豆粕: 09 | 4月11日 | 元/吨 | 3082 | 3074 | 8.00 | 0.26% | | | CZCE菜籽粕: 01 | 4月11日 | 元/吨 | 2449 | 2421 | 28.00 | 1.16% | | | CZCE采用相: 05 | 4月11日 ...

豆粕生猪：现货成交放量 连粕高位回落 朱皓天 zhuhaotian@jsfco.com 期货从业资格号：F03090081 投资咨询从业证书号：Z0016204 表 1：豆粕生猪期货日度数据监测 | | 行期待 JIDGHI FITUR | | | 粕 类 生 猪 每 日 数 据 追 踪 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 載至 | 車(4) | マ日 | 昨日 | 涨跌 | 涨跌幅 | | 期货 | DCE豆粕: 01 | 4月9日 | 元/吨 | 3093 | 3127 | -34.00 | -1.09% | | | DCE豆粕: 05 | 4月9日 | 元/吨 | 2946 | 2973 | -27.00 | -0.91% | | | DCE豆粕: 09 | 4月9日 | 元/吨 | 3119 | 3164 | -45.00 | -1.42% | | | CZCE菜籽粕: 01 | 4月9日 | 元/吨 | 2430 | 2457 | -27.00 | -1.10% | | | CZCE菜籽柏: 05 | ...

-200 0 200 400 600 800 1000 日期 01-13 01-26 02-08 02-21 03-05 03-18 03-31 04-13 04-26 05-09 05-22 06-04 06-17 06-30 07-13 07-26 08-08 08-21 09-03 09-16 09-29 10-12 10-25 11-07 11-20 12-03 12-16 12-29 2025 2024 2023 2022 2021 铁矿石--基差 -1000 -500 0 500 1000 1500 日期 01-13 01-26 02-08 02-21 03-05 03-18 03-31 04-13 04-26 05-09 05-22 06-04 06-17 06-30 07-13 07-26 08-08 08-21 09-03 09-16 09-29 10-12 10-25 11-07 11-20 12-03 12-16 12-29 2025 2024 2023 2022 2021 焦煤--基差 -1000 -500 0 500 1000 1500 日期 01-15 01-30 02-14 02 ...

豆粕生猪：关税冲突升级 豆粕跳空大涨 朱皓天 zhuhaotian@jsfco.com 期货从业资格号：F03090081 投资咨询从业证书号：Z0016204 表 1：豆粕生猪期货日度数据监测 | | THER | | | 粕 类 生 猪 每 日 数 据 追 踪 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 截至 | 東区 | マロ | 昨日 | 涨跌 | 涨跌幅 | | | DCE豆粕: 01 | 4月7日 | 元/吨 | 3024 | 3010 | 14.00 | 0.47% | | | DCE豆粕: 05 | 4月7日 | 元/吨 | 2885 | 2862 | 20.00 | 0.70% | | | DCE豆粕: 09 | 4月7日 | 元/吨 | 3056 | 3039 | 17.00 | 0.56% | | | CZCE菜籽粕: 01 | 4月7日 | 元/吨 | 2357 | 2375 | -18.00 | -0.76% | | 期货 | CZCE菜籽柏: 05 | 4月7日 | 元/吨 | 2598 | ...

| | 黑色产业数据每日监测（4.7） | | | | | --- | --- | --- | --- | --- | | 品种 | 主力合约收盘价 涨跌 现货价格 | 涨跌幅 | | 基差 | | 螺纹 | 3083 -82 | -2.59% | 3220 | 137 | | 热卷 | 3261 -103 | -3.06% | 3350 | 89 | | 铁矿 | 762.5 -26.5 | -3.36% | 787 | 24.5 | | 焦煤 | 977 -20.5 | -2.06% | 1030 | 53 | | 焦炭 | 1594 -36 | -2.21% | 1360 | -234 | | | 市场概况 | | | | | | 今日受全球市场冲击黑色系商品期货集体大跌。螺纹收于3083元/吨，下跌 | | | | | | 2.59%；热卷切换主力合约收于3261元/吨，跌幅为3.06%；铁矿今日主力合约 | | | | | | 收于762.5元/吨，收盘下跌3.36%；焦碳、焦煤弱势收跌。 | | | | | | 市场分析 | | | | | | 需求方面，上周Mysteel调研247家钢厂高炉开工 ...

朱皓天 zhuhaotian@jsfco.com 期货从业资格号：F03090081 投资咨询从业证书号：Z0016204 棉花：美棉触及历史低位 郑棉大跌跌下 13100 数据来源：Wind、金石期货研究所 一、行情综述 郑棉主力 2505 合约，最终收盘价较上个交易日下跌 3.11%，收于 13090 元/吨，较上一 个交易日下跌 420 元/吨。ICE 美棉隔夜下跌 2.27%，收于 63.33 美分/磅。美棉隔夜下跌， 受关税政策影响，美棉持续下跌，触及美棉四年低位。郑棉期货今日低开低走，受到中美关 税政策的影响，今日大宗商品市场十余个品种跌停，化工板块受挫严重，农产品板块多数下 跌，后续应持续关注关税政策的后续进展。郑棉预计持续偏弱走势。后续关注外盘走势、关 税政策及国内政策走向的边际影响。 二、宏观、行业要闻 1、4 月 7 日讯，4 月 3 日，美国宣布对中国输美商品征收 34%的"对等关税"，加征幅 度超出市场预期；4 月 4 日，经国务院批准，国务院关税税则委员会公布公告，对原产于美 国的所有进口商品加征 34%关税，中美关税升级，全球棉纺织产销结构或重新调整，市场看 | | | | | | ...

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - The macro - outlook is worrying, and the overall trend of oils and fats is downward. Internationally, the US tariff war leads to a poor outlook for US soybean exports, CBOT soybean futures decline, and Brazilian soybean premiums rise. The global economic outlook worsens, and Malaysian palm oil breaks through the low at the beginning of the year. Domestically, the dependence on US soybeans is decreasing, the demand outlook for domestic oils and fats is more pessimistic, and soybean oil is expected to decline under pressure. The supply - demand weakness of domestic palm oil continues, and rapeseed oil temporarily corrects following other oils [1][19] Group 3: Summary According to the Directory 1. Macro and Industry News - During the Tomb - Sweeping Festival, China announced reciprocal tariffs, raising the tariff on imported US soybeans to 47% [2] - Analysts predict that the global 2024/25 soybean ending inventory will be 122.07 million tons, with a forecast range of 121 - 123 million tons, higher than the USDA's March estimate [2] - In March, the total soybean crushing volume of oil mills was 6.21 million tons, a decrease of 330,000 tons from the previous month and 1.03 million tons from the same period last year. In early April, the soybean inventory of oil mills was still tight, and the imported soybean arrivals are expected to increase in late April, with the April crushing volume about 6.5 million tons [2] - The market expects that the Malaysian palm oil inventory at the end of March will reach 1.56 million tons, a 3% increase from February. The March crude palm oil production is expected to be 1.31 million tons, a 10.3% increase from the previous month, and the export volume is estimated to be 1.022 million tons, a 2% increase from the previous month [2] 2. Fundamental Data Charts - No specific data analysis content provided 3. Views and Strategies - Internationally, the US tariff war causes the CBOT soybean futures market to decline, and Brazilian soybeans benefit. The global economic outlook worsens, and Malaysian palm oil breaks through the low at the beginning of the year [19] - Domestically, the impact of the tariff war on the supply of imported soybeans is limited, but the demand outlook for domestic oils and fats is more pessimistic. Soybean oil is expected to decline under pressure. The supply - demand weakness of domestic palm oil continues, and rapeseed oil temporarily corrects following other oils [19]

豆粕生猪：关税靴子落地 内外走势分化 朱皓天 zhuhaotian@jsfco.com 期货从业资格号：F03090081 投资咨询从业证书号：Z0016204 表 1：豆粕生猪期货日度数据监测 | | 毛口朗冷 JIDAHI FITTIN | | | 粕 类 生 猪 每 日 数 据 追 踪 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 截台 | 車位 | マ日 | 昨日 | 涨跌 | 涨跌幅 | | 期高 | DCE豆粕: 01 | 4月3日 | 元/吨 | 3010 | 2978 | 32.00 | 1.07% | | | DCE豆粕: 05 | 4月3日 | 元/吨 | 2865 | 2832 | 33.00 | 1.17% | | | DCE豆粕: 09 | 4月3日 | 元/吨 | 3039 | 2983 | 56.00 | 1.88% | | | CZCE菜籽粕: 01 | 4月3日 | 元/吨 | 2375 | 2345 | 30.00 | 1.28% | | | CZCE菜籽粕: 05 | 4月3日 | 元 ...

油脂：大宗集体走弱 菜油逆势收涨 冯子悦 fengzy@jsfco.com 期货从业资格号：F03111391 投资咨询从业证书号：Z0018581 表 1：油脂期货日度数据监测 | | | 油 | 脂 每 | 日 | 数 据 | 追 | 踪 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 指标 | 截至 | 单位 | 今日 | 昨日 | 涨跌 | 涨跌幅 | | 期货 | DCE豆油主力 | 4月3日 | 元/吨 | 7902.00 | 7986.00 | -84.00 | -1.05% | | | DCE棕榈油主力 | 4月3日 | 元/吨 | 9198.00 | 9304.00 | -106.00 | -1.14% | | | CZCE菜籽油主力 | 4月3日 | 元/吨 | 9534.00 | 9466.00 | 68.00 | 0.72% | | | CBOT大豆主力 | 4月2日 | 美分/蒲式耳 | 1029.25 | 1032.75 | -3.50 | -0.34% | | | CBOT豆油主力 | 4月2日 | 美分/磅 | 4 ...