天富期货棕榈油、棉花上涨

Report Summary 1. Industry Investment Rating No investment rating information is provided in the report. 2. Core View The agricultural products sector shows a mixed trend. Palm oil, cotton, and pigs are on an upward trend, while soybean meal is volatile, sugar is in a narrow - range oscillation, and eggs are also volatile. Each product's trend is affected by supply - demand factors and technical indicators [1]. 3. Summary by Variety Palm Oil - The palm oil main 2605 contract breaks through the resistance and expands gains, supported by reduced supply and increased demand in the origin. Malaysia's palm oil production in the first 25 days of December decreased by 9%, and exports increased by 1.6% - 3%. Technical indicators are strong, and the strategy is to go long on dips with support at 8550 - 8600 [2]. Cotton - The cotton main 2605 contract rises strongly, supported by the expected supply contraction and strong downstream demand. The new cotton sales rate is up 25.1 percentage points year - on - year, and there are optimistic expectations for textile exports. Technically, it is strong, and the strategy is to hold light long positions [3]. Pigs - The pig main 2603 contract continues to rise, driven by increased demand at the end of the year. Group pig enterprises reduce supply, and consumer demand for pork increases. Technically, it is strong, and the strategy is to go long on dips with light positions [5]. Soybean Meal - The soybean meal main 2605 contract is volatile, first falling then rising. High inventory restricts the rebound space, with the domestic soybean meal inventory at 117.6 million tons, up 7.72% week - on - week. The strategy is short - term trading [7]. Sugar - The Zheng sugar main 2605 contract oscillates in a narrow range. Although seasonal supply increases, demand is expected to pick up during the festivals, and the inventory is low. The technical indicators are strong, and long positions can be held [9]. Eggs - The egg main 2602 contract is volatile, first falling then rising. Supply is abundant, but consumption is expected to improve. The strategy is to close long positions and conduct short - term trading [12].