生猪大跌、玉米反弹

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The agricultural product sector shows mixed trends. Pig prices are falling due to ample supply and weak demand, while corn prices are rebounding due to factors such as partial grain depot purchases and reduced supply in North China. Egg prices are also falling due to high inventory. Other products like soybean meal, palm oil, etc., each have their own supply - demand and price trends [1]. Summary by Variety 1. Pig - The main 2601 contract of pigs has tumbled. In October, the supply of market - suitable pigs is abundant, and pork consumption has entered the traditional off - season. The contract price has fallen below all moving averages, and the technical indicators are weak. The recommended strategy is to hold a light short position, with support at 11800 and resistance at 12000 [2]. 2. Corn - The main 2601 contract of corn continues to rebound. Although the supply of new grain in the Northeast is increasing, some grain depots are purchasing, and the supply in North China is reduced due to rainy weather. The futures price has stood above the 10 - day moving average, and the recommended strategy is to hold a light long position, with support at 2126 and resistance at 2150 [3]. 3. Soybean Meal - Soybean meal is oscillating downward due to ample supply. The domestic inventory of imported soybeans is increasing, and the spot price difference is under pressure. The contract price is below the moving average system, and the recommended strategy is to hold a light short position, with support at 2890 and resistance at 2928 [5]. 4. Palm Oil - The main 2601 contract of palm oil is narrowly oscillating and weakly fluctuating. The export data of Malaysian palm oil is good, but the domestic supply - demand situation is weak. The recommended strategy is short - term trading, with support at 9262 and resistance at 9390 [9]. 5. Soybean Oil - The main 2601 contract of soybean oil is narrowly fluctuating. The supply of domestic soybeans is sufficient, and the inventory pressure is high. The recommended strategy is short - term trading, with support at 8262 and resistance at 8302 [10]. 6. Egg - The main 2512 contract of eggs has fallen. The egg - laying hen inventory is at a historical high, and the supply is loose. The contract price is below the moving average system, and the recommended strategy is to hold a light short position, with support at 2770 and resistance at 2820 [12]. 7. Cotton - The main 2601 contract of cotton is oscillating and rebounding. The supply of new cotton in Xinjiang is increasing, but the downstream demand is weak. The contract price has rebounded to the 10 - day moving average, and the recommended strategy is to try a light long position, with support at 13290 and resistance at 13400 [16]. 8. Sugar - The main 2601 contract of sugar has a limited low - level rebound. The global sugar supply is in surplus, and the domestic sugar consumption is in the off - season. The contract price is below the moving average system, and the recommended strategy is to hold a light short position, with support at 5382 and resistance at 5420 [17][19]. 9. Apple - The main 2601 contract of apples has broken down. The new apple listing volume is expected to increase, and the high price has led to a wait - and - see attitude among merchants. The contract price has fallen below the 10 - day moving average, and the recommended strategy is to close long positions and try a light short position, with support at 8434 and resistance at 8580 [20]. 10. Red Date - The main 2601 contract of red dates has broken through and risen significantly. The demand is warming up, and the inventory is decreasing. The contract price has stood above the moving average system, and the recommended strategy is to hold a light long position, with support at 11145 and resistance at 11500 [23].