Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Views - The egg futures price is falling. The supply pressure is large due to high in - production laying hen inventory and increasing small - sized egg supply, and the demand is weak in summer. The egg price is expected to remain low in the first half of July, with the low - price area limiting the decline, and the strong support area of the main egg futures contract price is 3370 - 3350 [3]. - The stock index futures market is expected to continue to oscillate upward as the US Treasury Secretary plans to talk with China to promote Sino - US trade [7]. - Gold is expected to reach a new high in the long - term, although it has adjusted due to the Fed's decision not to cut interest rates. It can be bought at a low price when it reaches an important support level [11][12]. - Iron ore is in a state of wide - range oscillation. Supply is increasing, iron - water production is seasonally weakening, and the risk of over - valuation is increasing, so attention should be paid to steel mill profits [14][15]. - Glass is in an oscillating state, and it is still waiting for the effect of real - estate stimulus or major policy introduction. The supply side has no major cold - repair, factory inventory is high, and downstream demand is weak [18][19]. - Soybean oil is expected to oscillate or be strong in the short - term due to the US biodiesel policy and the uncertain Middle - East situation. But in the medium - term, it is in a season of production and inventory increase. When the price reaches the 7950 - 8000 pressure area, it can be short - sold lightly [23]. 3. Summary by Related Catalogs Hot Focus - Egg Futures - Supply: High in - production laying hen inventory, increasing new - laying hens, and more small - sized egg supply lead to large supply pressure, and the pressure is difficult to relieve as the culling of old hens is limited [3]. - Demand: Summer is the off - season for egg consumption, and school holidays reduce canteen purchases. Although low prices may stimulate promotions and restocking, overall demand is weak and difficult to change in the short - term [3]. Technical Analysis - Stock Index Futures - The market is expected to continue to oscillate upward as the US Treasury Secretary plans to talk with China to promote Sino - US trade [7]. Technical Analysis - Gold - The Fed's decision not to cut interest rates has reduced the expectation of rate cuts this year, causing gold to adjust. However, the long - term trend is still bullish, and it can be bought at a low price when it reaches an important support level [11][12]. Technical Analysis - Iron Ore - Supply is increasing, iron - water production is seasonally weakening, and ports are accumulating inventory again. The risk of over - valuation is increasing, and attention should be paid to steel mill profits. Technically, it is in a wide - range oscillation [14][15]. Technical Analysis - Glass - The supply side has no major cold - repair, factory inventory is high, and downstream deep - processing orders have weak restocking power and weak demand. It is still waiting for the effect of real - estate stimulus or major policy introduction, and technically, it is in an oscillating state [18][19]. Technical Analysis - Soybean Oil - In the short - term, it may oscillate or be strong due to the US biodiesel policy and the uncertain Middle - East situation. But in the medium - term, it is in a season of production and inventory increase. When the price reaches the 7950 - 8000 pressure area, it can be short - sold lightly [23].
金信期货日刊-20250709
Jin Xin Qi Huo·2025-07-09 00:07