Group 1 - The core issue revolves around Trump's recent threats to impose tariffs on China, following his decision to increase tariffs on India to 50%, which could severely impact US-India trade relations [1][4] - India's response to US sanctions has been relatively passive, with Modi's government seeking negotiations rather than confrontation, indicating India's economic vulnerability [4][5] - The US's stance is that India's support for Russia through oil purchases undermines the US-European alliance, leading to economic repercussions for India [7][8] Group 2 - Despite facing sanctions, India has benefited economically from discounted Russian oil, which it refines and exports, helping to control domestic inflation [7] - In contrast, China has not faced similar sanctions despite its significant oil purchases from Russia, highlighting a disparity in US policy towards these two nations [8][10] - China's economic strength and strategic position make it less susceptible to US pressure, as it has developed robust countermeasures against sanctions [10][11] Group 3 - The complex relationships among China, the US, India, and Russia are characterized by intertwined interests, with China advocating for mutual development and trade [13] - India's realization of the potential benefits of repairing relations with China amidst US pressures reflects a shift in its strategic considerations [11][13]

Core Points - Malaysia has committed to a significant procurement and investment agreement with the U.S., amounting to $240 billion over the next decade, which raises concerns about its financial implications [1][3] - The agreement includes purchasing Boeing aircraft, coal, and telecommunications equipment, with a focus on sectors like semiconductors and aerospace [3] - Analysts suggest that Malaysia may need to reallocate investments from other countries to meet this commitment, potentially impacting its fiscal health [1][4] Group 1: Agreement Details - Malaysia will spend up to $150 billion on equipment from U.S. multinational companies over the next five years [3] - The country plans to invest $70 billion in the U.S. over ten years, with specific purchases including $19 billion for Boeing aircraft and $3.4 billion annually for liquefied natural gas [3] - The total commitment of $240 billion exceeds Malaysia's current trade surplus with the U.S. of $25 billion [1][3] Group 2: Economic Implications - Concerns have been raised about the potential need for Malaysia to utilize national funds to finance these commitments, which could strain public finances [3][6] - Experts recommend leveraging government-linked investment entities, such as the Employees Provident Fund and Khazanah Nasional, to support financing [4] - The agreement may provide opportunities for Malaysian companies to secure favorable contracts in the U.S. market, contingent on strong private sector motivation and sound financing structures [6]

Core Viewpoint - Despite threats from US President Trump to impose significant tariffs on India due to its purchase of Russian oil, senior aides to Indian Prime Minister Modi are proceeding with planned visits to Russia [1][2]. Group 1: Diplomatic Engagements - Indian National Security Advisor Doval is scheduled to visit Russia this week, and Indian Foreign Minister Jaishankar will also visit later this month as part of annual routine consultations that were pre-arranged [2]. - The Indian Ministry of External Affairs did not respond to requests for comments regarding these visits [5]. Group 2: US-India Relations - Trump expressed concerns on social media about India's substantial purchases of Russian oil, claiming that India is profiting by selling much of this oil on the open market, and threatened to significantly increase tariffs on India [5]. - In response, the Indian Ministry of External Affairs stated that importing Russian oil is essential for ensuring stable and affordable energy supplies for Indian consumers, emphasizing that India will take necessary measures to protect its national interests and economic security [5]. Group 3: Russian Perspective - The Kremlin criticized Trump's remarks, asserting that sovereign nations have the right to choose their trade partners and that pressuring countries to sever trade ties with Russia is inappropriate [5].

Group 1 - The core viewpoint expressed is that Trump is indifferent to the trade relations between India and Russia, emphasizing that trade with India is minimal due to high tariffs, which are among the highest in the world [1] - Trump also notes that there is almost no trade between the United States and Russia, suggesting a preference to maintain the current state of limited trade interactions [1]

Group 1 - The Australian dollar (AUD) is currently trading at 0.6573 against the US dollar, with a slight increase of 0.13%, as investors await key economic data including the second quarter CPI and the Federal Reserve's interest rate decision [1] - The preliminary PMI for July in Australia has risen, indicating accelerated economic activity across various sectors, which has improved the macroeconomic outlook [1] - The current annual CPI for June stands at 2.1%, nearing the lower limit of the Reserve Bank of Australia's (RBA) inflation target range of 2%-3%. A further slowdown in inflation could increase pressure on the RBA to ease monetary policy [1] Group 2 - The market anticipates that the RBA will cut interest rates in mid-August and again in November, although RBA Governor Michelle Bullock has downplayed the significance of the June unemployment rate rising to 4.3%, suggesting a more hawkish stance than the market expects [1] - The Australian dollar is sensitive to trade relations, particularly with China, and upcoming manufacturing PMI data from China could impact demand for Australian raw materials, thereby influencing the AUD [2] - Technical analysis indicates that the AUD/USD trading range is between 0.6545 and 0.6585, with support levels at 0.6505-0.6455 and resistance around 0.66875. A potential technical correction may occur if the AUD touches the upper Bollinger Band [2]

Core Insights - Enterprise Ireland reported record export performance for Irish companies in 2024, with exports reaching €36.75 billion, a 7% increase from the previous year [1][2] Group 1: Export Performance - Exports to Europe grew by 4% to €10.63 billion, surpassing the UK for the first time as the largest export region [1] - Exports to the UK reached €10.52 billion, a 4% year-on-year increase, marking the first time exceeding €10 billion [1] - Exports to the US amounted to €6.66 billion, with non-food exports contributing €5.61 billion [1] Group 2: Sector Performance - Food and sustainable products exports increased by 5% to €16.25 billion [2] - Non-food exports rose by 8% to €20.5 billion, with industrial and life sciences exports growing by 9% to €11.46 billion [2] - High-tech construction exports surged by 20% to €4.66 billion [2] - Technology and services sector grew by 7% to €9.05 billion, with digital technology exports increasing by 9% to €3.16 billion [2] Group 3: Employment and Economic Impact - Companies supported by Enterprise Ireland employed a record 234,454 individuals in 2024 [2] - These companies contributed significantly to the Irish economy, with total spending of €42.65 billion, including €13 billion in wage expenditures [2]

Core Viewpoint - The recent imposition of a 17.09% tariff on Mexican tomatoes by the United States is expected to adversely affect not only Mexican farmers but also the broader agricultural trade relationship between the two countries, leading to increased prices for American consumers and potential economic contraction [1] Group 1: Impact on Mexican Farmers - The tariff will significantly harm the interests of Mexican tomato growers, leading to a notable decrease in export volumes to the United States [1] - The agricultural trade relationship between Mexico and the U.S. is being undermined, which could have long-term implications for bilateral trade stability [1] Group 2: Effects on U.S. Consumers - American consumers will face two main challenges: rising tomato prices and economic contraction, which may force them to cut back on spending [1] - The increase in prices for essential food items like tomatoes could contribute to further inflation in the U.S. economy [1] Group 3: Market Demand and Supply - Preliminary assessments indicate that U.S. demand for tomatoes is expected to decline by approximately 25% due to the tariff [1] - The overall supply and demand dynamics in the tomato market are projected to decrease simultaneously, affecting both countries [1]

Group 1 - Indonesia has reached an agreement with the United States to reduce tariffs on Indonesian goods from 32% to 19% [1] - The agreement includes commitments from Indonesia to purchase $15 billion worth of energy products, $4.5 billion in agricultural products, and 50 Boeing aircraft from the U.S. [1] - The Indonesian President Prabowo expressed that the country has reached its bottom line in negotiations and cannot make further concessions [1] Group 2 - The new tariff rate for Indonesia is lower than that of Vietnam and other Southeast Asian countries, which has surprised the Vietnamese government [2] - Domestic reactions in Indonesia are mixed, with fishing industry workers expressing concerns over the increase from zero to 19%, while the textile industry welcomes the new rate as it is more favorable compared to higher tariffs faced by competitors like Vietnam and Bangladesh [2]

Report 1: Oil and Fat Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View - Palm oil: After the release of the MPOB supply - demand report, the bullish factors are realized. There is a risk of a new round of decline after the end of the current uptrend in crude palm oil futures due to concerns about production growth in July. Long - term, there is a risk of falling below 4,000 ringgit and continuing to weaken. In the domestic market, after a sharp rise, Dalian palm oil futures may face short - term resistance around 8,650 yuan, and it is advisable to closely monitor whether it can effectively stop falling around 8,500 yuan. - Soybean oil: The CBOT soybean oil market is currently less affected by its own fundamentals. The previous biodiesel theme has been digested by the market. At present, the market is mainly affected by the rise of new - crop soybeans in the US and trade relations. In the short term, the fluctuation range of CBOT soybean oil is small, and the narrow - range shock adjustment pattern will continue. In the domestic market, the overstocked oil mills force traders to lower the basis for sales contracts, which has a certain drag on the spot basis quotation. However, due to the expected limited soybean imports in the fourth quarter, the possibility of a significant downward adjustment of the basis quotation is not large. [1] 3. Data Summary - **Soybean oil**: The spot price in Jiangsu was 8,170 yuan on July 9, up 40 yuan or 0.49% from the previous day; the futures price of Y2509 was 7,920 yuan, down 26 yuan or - 0.33%; the basis of Y2509 was 250 yuan, up 35.87%; the warehouse receipts decreased by 137 to 22,826, a decrease of 0.60%. - **Palm oil**: The spot price of 24 - degree palm oil in Guangdong was 8,700 yuan on July 9, up 120 yuan or 1.75%; the futures price of P2509 was 8,678 yuan, up 34 yuan or 0.39%; the basis of P2509 was 22 yuan, up 123.40%; the warehouse receipts increased by 184 to 854, an increase of 27.46%. - **Rapeseed oil**: The spot price of Grade 4 rapeseed oil in Jiangsu was 9,680 yuan on July 9, up 50 yuan or 0.52%; the futures price of OI509 was 9,510 yuan, down 88 yuan or - 0.92%; the basis of OI509 was 170 yuan, up 431.25%; the warehouse receipts increased by 301 to 3,021. - **Spreads**: The soybean oil inter - period spread (09 - 01) decreased by 2 to 4, a decrease of 33.33%; the palm oil inter - period spread (09 - 01) increased by 18 to 32, an increase of 128.57%; the rapeseed oil inter - period spread (09 - 01) increased by 6 to 60, an increase of 11.11%. The spot soybean - palm oil spread decreased by 110 to - 530, a decrease of 26.19%; the 2509 soybean - palm oil spread decreased by 60 to - 758, a decrease of 8.60%. [1] Report 2: Corn and Corn Starch Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View In the short term, due to the continuous import corn auctions, the market sentiment is bearish, and the spot and futures prices are weak. As the remaining grain is consumed, traders are reluctant to sell, and the decline of corn prices slows down. Downstream deep - processing has maintenance plans and purchases on demand; the breeding end purchases as needed and mainly replenishes inventory on a rigid basis. The overall demand is supported by breeding consumption. On the substitution side, wheat is strongly supported by the purchase - protection policy, the wheat - corn price spread narrows, and the feed substitution increases, limiting the rise of corn. In the medium term, the tight supply of corn, low imports, and increasing breeding consumption support the upward movement of corn in the third quarter. Overall, in the short term, the market sentiment is gradually digested, the decline of corn is limited due to the tight remaining grain, the market fluctuates narrowly, and it is advisable to pay attention to subsequent policy releases and temporarily stay on the sidelines. [3] 3. Data Summary - **Corn**: The futures price of corn 2509 was 2,319 yuan/ton, down 2 yuan or - 0.09%; the basis was 41 yuan, up 5.13%; the north - south trade profit was - 1 yuan, down 20 yuan or - 105.26%; the import profit was 554 yuan, down 10 yuan or - 1.84%. The number of remaining vehicles in Shandong deep - processing in the morning was 173, down 40 or - 18.78%; the open interest increased by 25,610 to 1,604,832, an increase of 1.62%; the warehouse receipts increased by 287 to 202,489, an increase of 0.14%. - **Corn starch**: The futures price of corn starch 2509 was 2,677 yuan/ton, up 1 yuan or 0.04%; the basis was 23 yuan, down 1 yuan or - 4.17%; the 9 - 1 spread increased by 8 to 57, an increase of 16.33%; the starch - corn spread on the disk increased by 3 to 358, an increase of 0.85%. The open interest increased by 10,948 to 298,266, an increase of 3.81%; the warehouse receipts decreased by 101 to 22,821, a decrease of 0.44%. [3] Report 3: Sugar Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View In the first half of June, Brazil's sugar production was 2.45 million tons, a year - on - year decrease of 696,000 tons or 22.12%. Brazil's increase in the ethanol blending ratio in gasoline supports the raw sugar price. However, the global supply is becoming looser, which puts pressure on raw sugar, and the rebound height is limited. It is expected that raw sugar will maintain a bottom - oscillating pattern. The market demand is weak, the low inventory supports the spot price in Guangxi, the continuous decline of raw sugar, the expansion of import processing profits, and the loosening of processed sugar quotes put pressure on prices. Considering the increase in imports later, the overall domestic supply - demand is marginally looser, and a bearish view is maintained after a rebound. [7][8] 3. Data Summary - **Futures market**: The futures price of sugar 2601 was 5,606 yuan/ton, up 17 yuan or 0.30%; the futures price of sugar 2509 was 5,779 yuan/ton, up 32 yuan or 0.56%; the ICE raw sugar main contract was 16.54 cents/pound, up 0.39 cents or 2.41%. The 1 - 9 spread was - 173 yuan/ton, down 15 yuan or - 9.49%; the open interest of the main contract decreased by 7,728 to 287,247, a decrease of 2.62%; the warehouse receipts decreased by 105 to 22,987, a decrease of 0.45%. - **Spot market**: The spot price in Nanning was 6,040 yuan/ton, up 20 yuan or 0.33%; the spot price in Kunming was 6,365 yuan/ton, up 485 yuan or 8.25%. The import price of Brazilian sugar (within the quota) was 4,457 yuan/ton, down 30 yuan or - 0.67%; the import price of Brazilian sugar (outside the quota) was 5,662 yuan/ton, down 39 yuan or - 0.68%. - **Industry situation**: The cumulative national sugar production was 11.1621 million tons, up 1.1989 million tons or 12.03%; the cumulative national sugar sales were 8.1138 million tons, up 1.521 million tons or 23.07%; the cumulative sugar production in Guangxi was 6.465 million tons, up 283,600 tons or 4.59%; the monthly sugar sales in Guangxi were 510,000 tons, down 17,200 tons or - 3.26%. The cumulative national sugar sales rate was 72.59%, up 6.42 percentage points or 9.70%; the cumulative sugar sales rate in Guangxi was 71.85%, up 5.39 percentage points or 8.11%. The national industrial inventory was 3.0483 million tons, down 322,100 tons or - 9.56%. [7] Report 4: Cotton Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View The downstream of the cotton industry remains weak, the overall demand is weak, the operating rate of textile enterprises continues to decline, and the finished - product inventory is accumulating. However, the inventory pressure is not large. The profit of textile enterprises has deteriorated from April to May, and there is no obvious continuous upward - driving force in the industrial fundamentals. It is necessary to pay attention to the weather changes in the main production areas in Xinjiang and the downstream demand of the industry. In the short term, the domestic cotton price may fluctuate in a higher range than before the rise in late June. If the downstream remains weak, there is still a risk of decline. [10] 3. Data Summary - **Futures market**: The futures price of cotton 2509 was 13,830 yuan/ton, up 45 yuan or 0.33%; the futures price of cotton 2601 was 13,785 yuan/ton, up 25 yuan or 0.18%; the ICE US cotton main contract was 67.72 cents/pound, up 0.40 cents or 0.59%. The 9 - 1 spread was 45 yuan/ton, up 20 yuan or 80.00%; the open interest of the main contract increased by 3,542 to 546,763, an increase of 0.65%; the warehouse receipts decreased by 16 to 9,932, a decrease of 0.39%. - **Spot market**: The Xinjiang arrival price of 3128B was 15,163 yuan/ton, down 12 yuan or - 0.08%; the CC Index of 3128B was 15,184 yuan/ton, down 9 yuan or - 0.06%; the FC Index of M: 1% was 13,545 yuan/ton, down 87 yuan or - 0.64%. - **Industry situation**: The commercial inventory was 282.98 million tons, down 29.71 million tons or - 9.5%; the industrial inventory was 90.30 million tons, down 2.71 million tons or - 2.9%; the import volume was 4 million tons, down 2 million tons or - 33.3%; the bonded - area inventory was 33.60 million tons, down 3.30 million tons or - 8.9%. The yarn inventory days were 27.23 days, up 3.37 days or 14.1%; the grey - cloth inventory days were 36.61 days, up 1.15 days or 3.2%. The cotton shipment volume out of Xinjiang was 53.46 million tons, up 8.86 million tons or 22.6%. [10] Report 5: Meal and Soybean Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View The good weather in the US soybean - producing areas and market concerns about US tariffs keep the market at the bottom. The premiums of Brazilian soybeans for August and September shipments have slightly declined recently. As the time window for the arrival of US soybeans approaches, the price of Brazilian soybeans is relatively firm. Currently, the inventory of domestic soybeans and soybean meal continues to rise, the operating rate improves, and there is no significant inventory pressure on soybean meal, and the basis is relatively stable. However, the subsequent supply is expected to be high, and the terminal trading is weak. It is necessary to pay attention to the sustainability of demand. The trend of soybean meal is not yet clear, and the market is bottom - grinding in the short term. [12] 3. Data Summary - **Soybean meal**: The spot price in Jiangsu was 2,800 yuan, unchanged; the futures price of M2509 was 2,947 yuan, up 12 yuan or 0.41%; the basis of M2509 was - 147 yuan, down 12 yuan or - 8.89%. The import crushing profit of Brazilian soybeans for September shipments was 37 yuan, up 4 yuan or 12.1%; the warehouse receipts were 42,250, unchanged. - **Rapeseed meal**: The spot price in Jiangsu was 2,480 yuan, unchanged; the futures price of RM2509 was 2,586 yuan, up 10 yuan or 0.39%; the basis of RM2509 was - 106 yuan, down 10 yuan or - 10.42%. The import crushing profit of Canadian rapeseed for November shipments was 155 yuan, down 81 yuan or - 34.32%; the warehouse receipts were 15,663, down 136 or - 0.86%. - **Soybeans**: The spot price of Harbin soybeans was 3,960 yuan, unchanged; the futures price of the main soybean No. 1 contract was 4,111 yuan, up 7 yuan or 0.17%; the basis of the main soybean No. 1 contract was - 151 yuan, down 7 yuan or - 4.86%. The spot price of imported soybeans in Jiangsu was 3,660 yuan, unchanged; the futures price of the main soybean No. 2 contract was 3,582 yuan, unchanged; the basis of the main soybean No. 2 contract was 78 yuan, unchanged. [12] Report 6: Pig Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View The spot price of pigs fluctuates. Recently, the enthusiasm for secondary fattening is limited, the slaughter volume increases slightly, the market demand is weak, the price is stable and weak, and the market lacks upward - driving force. Currently, the breeding profit has returned to a low level, the market is cautious about capacity expansion, and there is no basis for a significant decline in the market. The market expects a wave of market conditions in July and August due to the impact of piglet diarrhea at the beginning of the year. The short - term sentiment is still strong, but the live - pig inventory continues to be postponed, and the pressure on the 09 contract is increasing. It is necessary to pay attention to the pressure above 14,500 yuan. [15][16] 3. Data Summary - **Futures market**: The main - contract basis was - 185 yuan/ton, down 960 yuan or - 123.87%; the futures price of pig 2511 was 13,600 yuan/ton, down 85 yuan or - 0.62%; the futures price of pig 2509 was 14,265 yuan/ton, down 10 yuan or - 0.07%. The 9 - 11 spread was 665 yuan, up 75 yuan or 12.71%; the open interest of the main contract decreased by 1,328 to 71,740, a decrease of 1.82%; the warehouse receipts were 447, unchanged. - **Spot market**: The spot price in Henan was 14,080 yuan/ton, down 970 yuan; the spot price in Shandong was 14,170 yuan/ton, down 1,030 yuan; the spot price in Sichuan was 14,430 yuan/ton, up 30 yuan; the spot price in Liaoning was 14,810 yuan/ton, down 40 yuan; the spot price in Guangdong was 16,590 yuan/ton, unchanged

1. Report Industry Investment Ratings No investment ratings were provided in the reports. 2. Core Views Fats and Oils - Palm oil futures may face a new round of decline after the end of the current rally, with long - term risks of falling below 4000 ringgit. Domestically, Dalian palm oil futures may encounter short - term resistance around 8650 yuan and should be watched for effective support around 8500 yuan. - CBOT soybean oil is mainly affected by the price trend of new - crop US soybeans and trade relations. Domestically, the spot basis is dragged down by the oil mill's full inventory, but the possibility of a large - scale reduction in the basis is low due to the expected limited soybean imports in the fourth quarter [1]. Corn - In the short term, the market sentiment is gradually digested. Corn's decline is limited due to the tight supply of remaining grain, and the futures price will fluctuate narrowly. It is recommended to wait and see the subsequent policy release [3]. Sugar - The global sugar supply is becoming more abundant, putting pressure on raw sugar prices. Although the low inventory in Guangxi supports the spot price, considering the expected increase in imports, the domestic sugar market is expected to be bearish after a rebound [8]. Cotton - The downstream cotton industry remains weak, and the overall demand is insufficient. The short - term domestic cotton price may oscillate in a higher range than in mid - June. However, if the downstream situation continues to deteriorate, there is a risk of price decline [10]. Meal - The domestic soybean and soybean meal inventories are rising, and the soybean meal basis is stable. However, with a high volume of arrivals expected, attention should be paid to the sustainability of demand. The soybean meal futures price is currently in the bottom - grinding stage [12]. Livestock (Pigs) - The current pig farming profit has returned to a low level, and the market is cautious about expanding production capacity. Although there is short - term bullish sentiment for a potential market improvement in July and August, the 09 contract is facing increasing upward pressure [16]. Eggs - The supply of eggs in the market is sufficient, but the price has reached a phased low. Traders may replenish their stocks at low prices, and the demand is expected to improve. Egg prices in most regions are expected to stabilize and then rise slightly, while a few regions may see a slight decline [18]. 3. Summary by Related Catalogs Fats and Oils - **Price Changes**: On July 9, 2025, compared with July 8, the spot price of Jiangsu first - grade soybean oil increased by 40 yuan to 8170 yuan, a 0.49% increase; the futures price of Y2509 decreased by 26 yuan to 7920 yuan, a 0.33% decrease. The spot price of Guangdong 24 - degree palm oil increased by 120 yuan to 8700 yuan, a 1.75% increase; the futures price of P2509 increased by 34 yuan to 8678 yuan, a 0.39% increase. The spot price of Jiangsu fourth - grade rapeseed oil increased by 50 yuan to 9680 yuan, a 0.52% increase; the futures price of OI509 decreased by 88 yuan to 9510 yuan, a 0.92% decrease [1]. Corn - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of corn 2509 decreased by 2 yuan to 2319 yuan/ton, a 0.09% decrease; the basis increased by 2 yuan to 41 yuan, a 5.13% increase. The futures price of corn starch 2509 increased by 1 yuan to 2677 yuan/ton, a 0.04% increase; the basis decreased by 1 yuan to 23 yuan, a 4.17% decrease [3]. Sugar - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of sugar 2601 increased by 17 yuan to 5606 yuan/ton, a 0.30% increase; the futures price of sugar 2509 increased by 32 yuan to 5779 yuan/ton, a 0.56% increase. The spot price in Nanning increased by 20 yuan to 6040 yuan, a 0.33% increase; the spot price in Kunming increased by 485 yuan to 6365 yuan, an 8.25% increase [7]. Cotton - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of cotton 2509 increased by 45 yuan to 13830 yuan/ton, a 0.33% increase; the futures price of cotton 2601 increased by 25 yuan to 13785 yuan/ton, a 0.18% increase. The commercial inventory decreased by 29.71 tons to 282.98 tons, a 9.5% decrease; the industrial inventory decreased by 2.71 tons to 90.30 tons, a 2.9% decrease [10]. Meal - **Price and Market Data**: On July 10, 2025, compared with the previous value, the spot price of Jiangsu soybean meal remained unchanged at 2800 yuan; the futures price of M2509 increased by 12 yuan to 2947 yuan, a 0.41% increase. The spot price of Jiangsu rapeseed meal remained unchanged at 2480 yuan; the futures price of RM2509 increased by 10 yuan to 2586 yuan, a 0.39% increase [12]. Livestock (Pigs) - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of live - hog 2511 decreased by 85 yuan to 13600 yuan/ton, a 0.62% decrease; the futures price of live - hog 2509 decreased by 10 yuan to 14265 yuan/ton, a 0.07% decrease. The spot price in Henan decreased by 970 yuan to 14080 yuan; the spot price in Shandong decreased by 1030 yuan to 14170 yuan [15]. Eggs - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of egg 09 contract increased by 17 yuan to 3596 yuan/500KG, a 0.47% increase; the futures price of egg 08 contract increased by 39 yuan to 3484 yuan/500KG, a 1.13% increase. The egg - to - feed ratio decreased by 0.10 to 2.19, a 4.37% decrease; the farming profit decreased by 6.27 yuan/feather to - 36.71 yuan/feather, a 20.60% decrease [18].