棕油续跌、红枣大跌

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The agricultural products sector mostly declined on Friday. Palm oil continued to fall, and its future price is expected to be weak. Red dates hit a new low, and there is room for further decline. Live pigs and eggs are still in a downward trend, and there is pressure for continued decline. Other varieties such as peanuts, sugar, and soybeans also showed different degrees of decline, while apples maintained a high - level narrow - range fluctuation, and cotton had a limited rebound [1]. 3. Summary by Related Catalogs 3.1 Agricultural Products Sector Overview - Most agricultural products in the sector declined on Friday. Palm oil was pressured by rising inventory expectations, red dates faced supply pressure, and live pigs and eggs had high inventories and weak demand [1]. 3.2 Variety Strategy Tracking 3.2.1 Palm Oil - Dalian palm oil and soybean oil main 2601 contracts continued to fall. In November, Malaysian palm oil exports decreased while production increased, and the US bio - fuel plan might bring a negative impact. The main contract broke through the lower limit of the previous sideways range, and the strategy is to short with a light position [2]. 3.2.2 Red Dates - The main 2601 contract of red dates fell sharply to a new low. New jujube listing and high inventory of old jujubes led to large supply pressure, and the contract broke through the support level. The strategy is to short with a light position [3]. 3.2.3 Eggs - The main 2601 contract of eggs fell back into a downward trend. High egg - laying hen inventory, slow capacity reduction, and weak demand led to increased inventory. The strategy is to short with a light position [5]. 3.2.4 Peanuts - The main 2601 contract of peanuts rose first and then fell. The supply is expected to increase after the busy farming season, and the demand is weak. The contract is in a weak state, and the strategy is to short with a light position [8]. 3.2.5 Sugar - The main 2601 contract of Zhengzhou sugar continued to fall to a new low. Global sugar supply is loose, and domestic sugar imports are high. The new sugar listing increased supply, and the strategy is to short with a light position [9][11]. 3.2.6 Live Pigs - The main 2601 contract of live pigs continued to decline. High supply and weak demand led to price pressure. The contract is in a downward trend, and the strategy is to hold short positions with a light position [12][16]. 3.2.7 Soybean Meal - The main 2601 contract of soybean meal expanded its decline. High inventory of soybean meal due to sufficient soybean imports and high - pressure oil - mill operation led to price decline. The strategy is to short with a light position [18]. 3.2.8 Apples - The main 2601 contract of apples fluctuated narrowly at a high level. Apple inventory is at a relatively low level in recent years, and the demand from foreign trade channels is good. The contract is in an upward trend, and the strategy is to hold long positions [19]. 3.2.9 Cotton - The main 2601 contract of cotton fluctuated narrowly with limited rebound. Cotton supply pressure is increasing, and the textile industry is in a off - season. The contract is restricted by the medium - term moving average, and the strategy is short - term trading [22].