Group 1: Report Investment Rating - No information provided Group 2: Core Viewpoints - Corn prices may rise again after New Year's Day as downstream enters seasonal restocking, and long - term focus is on import and domestic auction policies [3] - Starch prices are expected to strengthen slightly in the future, and long - term focus is on downstream consumption rhythm [3] - Short - term sugar pricing can refer to domestic sugar cost and spot price, and long - term may seek out - of - quota import cost if the global sugar market surplus intensifies [4] - Cotton demand is expected to improve next year, suitable for long - term buying [5] - Egg prices in the second quarter may be favorable if there is a concentrated culling of chickens before Laba [8] - Apple prices are expected to maintain high - level shock in the short term, with a near - strong and far - weak pattern in the medium term [14] - For pigs, there may be a short - term weakening of sentiment, and long - term improvement depends on further production and inventory reduction at the near end [14] Group 3: Corn/Starch Key Data - From 2025/12/30 to 2026/01/07, the price in Shekou decreased by 10, the basis decreased by 26, and the processing profit of starch increased by 8 [2] Market Analysis - Short - term: Market sentiment is weak due to policy, but origin prices are firm. After New Year's Day, downstream restocking may drive prices up [3] - Long - term: Focus on import and domestic auction policies [3] Group 4: Sugar Key Data - From 2025/12/30 to 2026/01/07, the price in Liuzhou increased by 10, the basis decreased by 12, and the import profit from Thailand decreased by 58 [4] Market Analysis - Short - term: Supply pressure of raw sugar decreases, and pricing can refer to domestic cost and spot price [4] - Long - term: If the global surplus intensifies, prices may seek out - of - quota import cost [4] Group 5: Cotton/Cotton Yarn Key Data - From 2025/12/30 to 2026/01/07, the price of 3128 cotton increased by 160, and the 32S spinning profit increased by 7 [5] Market Analysis - Low initial inventory offsets most of the production increase. Demand is expected to improve next year [5] Group 6: Eggs Key Data - From 2025/12/30 to 2026/01/07, the price in Hebei increased by 0.09, and the basis increased by 45 [7] Market Analysis - The inflection point of inventory has appeared. If there is concentrated culling before Laba, it is favorable for egg prices in the second quarter [8] Group 7: Apples Key Data - From 2025/12/30 to 2026/01/07, the 1 - month basis changed by 1.00, the 5 - month basis changed by 31.00, and the 10 - month basis changed by 57.00 [13][14] Market Analysis - Short - term: The price is firm, and the price is expected to maintain high - level shock [14] - Medium - term: Subject to the impact of competing products in the consumption end, with a near - strong and far - weak pattern [14] Group 8: Pigs Key Data - From 2025/12/30 to 2026/01/07, the price in Henan Kaifeng increased by 0.05, and the basis increased by 75 [14] Market Analysis - Short - term: Demand decreases after the New Year's Day holiday, and sentiment weakens [14] - Long - term: Improvement depends on further production and inventory reduction at the near end [14]
农产品早报-20260108
Yong An Qi Huo·2026-01-08 01:18