Core Viewpoint - The article discusses the upcoming offline salon hosted by Guotai Haitong, focusing on high-certainty resource products and their market outlook for 2026 and beyond [1]. Summary by Sections Opening Remarks - The event will begin with a speech by the head of Guotai Haitong Research Institute, Lu Ying, at 15:00 [3]. Sugar: Policy Support - The chief analyst of Guotai Junan Futures and head of agricultural products, Zhou Xiaoqiu, will present insights on sugar, emphasizing the role of policy in stabilizing the market from 15:10 to 15:30 [3]. Cotton: Looking Ahead - Senior analyst Fu Bo will discuss cotton, focusing on the outlook for the 2026/27 season during the time slot from 15:30 to 15:50 [3]. Corn: Structural Tightness vs. Marginal Accumulation - Senior analyst Yin Kaiyi will analyze the corn market, addressing the structural tightness versus total marginal accumulation from 15:50 to 16:10 [3]. Rubber: Building Momentum - The session on rubber, led by the chief analyst Gao Linlin, will explore how the market is gaining momentum amid low volatility from 16:10 to 16:30 [3]. Non-Consensus Signals in the Market - The discussion will include insights on non-consensus signals in the market, highlighting potential investment opportunities [3]. Cyclical Upswing and Agricultural Sector - The final segment will focus on the cyclical upswing and key growth points in the agricultural sector, emphasizing the importance of this sector in the current market context [3].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights that the pig price is expected to face downward pressure after the Spring Festival due to limited inventory reduction and increased supply [10][11] - The agricultural sector outperformed the market by 2.26 percentage points during the week of January 26 to January 30, 2026, with the agricultural index rising by 1.82% [5][16] - The report indicates that the demand for pork remains weak, with the average price of live pigs at 12.24 yuan/kg, down 0.68 yuan/kg week-on-week [10][11] Summary by Sections Weekly Observation - The report notes a shift from reluctance to sell to active sales in the pig breeding sector, but inventory reduction remains limited, leading to increased risk of price decline after the holiday [10][11] - The average weight of pigs sold has slightly decreased to 127.86 kg, indicating potential supply pressure on prices [10][11] Market Performance - The agricultural sector's performance was strong, with notable gains in seed stocks, including increases of 30.24% for Nongfa Seed Industry and 26.06% for Shennong Technology [5][16][21] Key News - The Ministry of Agriculture and Rural Affairs has initiated a nationwide inspection of the spring crop seed market to ensure quality and compliance [4][24] - The Ministry of Finance has allocated 176.6 billion yuan for high-standard farmland construction in 2025, a 53% increase year-on-year [4][24] Price Tracking - As of January 30, 2026, the average price of live pigs was 12.30 yuan/kg, down 5.17% from the previous week, while the price of piglets rose to 25.04 yuan/kg, up 6.37% [26][30] - The average price of white feathered chickens increased to 7.74 yuan/kg, reflecting a 3.20% rise week-on-week [32][40] - The average price of beef was reported at 66.03 yuan/kg, showing a slight increase of 0.56% [39][40]