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1. Report's Industry Investment Ratings - Short - term Oscillation: Soybean Meal, Rapeseed Meal [1] - Short - term Adjustment: Palm Oil, Rapeseed Oil [1] - Short - term Consolidation: Soybean Oil [1] - Oscillation Adjustment: Cotton [1] - Pressured Operation: Red Dates [1] - Oscillation Weakly: Live Pigs [1] 2. Report's Core Views - Soybean Meal: South American soybean issues persist. US soybeans maintain a strong trend, and domestic soybean meal continued to rise as bearish funds took risk - off positions before the Spring Festival. Be cautious about risks during the holiday and focus on multiple factors such as South American soybean production and US soybean planting area [1][4]. - Rapeseed Meal: Import supply is expected to improve. USDA February report data is bullish, and rapeseed meal continued to rebound. Pay attention to rapeseed procurement and trade developments [1][7]. - Palm Oil: Malaysian palm oil export data is bearish. Affected by Indonesia's export, palm oil prices fell, but it's in a large - range market due to the off - season and Indian festival demand [1][9]. - Soybean Oil: International and domestic soybean and soybean oil markets lack clear drivers. The price is oscillating weakly. Focus on palm oil data and US biodiesel policy [1]. - Rapeseed Oil: Supply has been alleviated, and it followed other oils to decline after the pre - holiday stocking. Pay attention to other oils and rapeseed import [1]. - Cotton: The US cotton market has stopped falling. Domestic raw material inventory is decreasing, but demand is weakening seasonally. In the long - term, there is a strong expectation [1][13]. - Red Dates: Pre - holiday sales are okay, but high inventory limits price increase. The market lacks bullish drivers after stocking. The price is under pressure, and be cautious about the rebound height [1][16]. - Live Pigs: In February, the supply - demand is strong. Early - month high - speed slaughtering suppresses prices. Some areas may have short - term rebounds, but the 03 contract is prone to fall, and far - month contracts lack upward momentum [1][19]. 3. Summaries According to Related Catalogs 3.1 Soybean Meal - Price Data: The futures price of the main contract closed at 2790 yuan/ton, up 0.61%. The national average spot price was 3167.71 yuan/ton, up 0.18% [3]. - Market Situation: South American soybean production and quality are affected. US soybean exports are expected to be good. Domestic bearish funds took risk - off positions before the Spring Festival [1][4]. 3.2 Rapeseed Meal - Price Data: The futures price of the main contract closed at 2303 yuan/ton, up 0.66%. The national average spot price was 2603.68 yuan/ton, up 0.86% [5]. - Market Situation: USDA February report adjusted relevant data bullishly. The resumption of Canadian rapeseed trade improves supply expectations [1][7]. 3.3 Palm Oil - Price Data: The futures price of the main contract closed at 8782 yuan/ton, down 1.39%. The national average price was 8850 yuan/ton, down 0.78% [8]. - Market Situation: Malaysian palm oil exports in February are not optimistic. Affected by Indonesia's supply increase, prices fell, but the off - season and Indian demand support the large - range market [1][9]. 3.4 Cotton - Price Data: The futures price of the main contract (CF2605) closed at 14745 yuan/ton, up 0.61%. The CCIndex (3218B) spot price was 16069 yuan/ton, up 0.25% [10]. - Market Situation: The 2 - month USDA report is slightly bearish. Domestic raw material inventory is decreasing, and demand is seasonally weak. In the long - term, there is an upward expectation [1][13]. 3.5 Red Dates - Price Data: The futures price of the main contract (CJ2605) closed at 8855 yuan/ton, down 0.45%. The spot prices in various regions are stable [14]. - Market Situation: Pre - holiday sales are okay, but high inventory limits price increase. The market lacks bullish drivers after stocking [1][16]. 3.6 Live Pigs - Price Data: The futures price of the main contract (lh2605) closed at 11540 yuan/ton, down 0.13%. The national average slaughter price was 11520 yuan/ton, up 0.26% [17]. - Market Situation: In February, the supply - demand is strong. Early - month high - speed slaughtering suppresses prices. The 03 contract is prone to fall, and far - month contracts lack upward momentum [1][19].