Core Viewpoint - The price of Moutai has experienced significant fluctuations, with notable increases in various product categories as of December 24, indicating a volatile market environment for this premium liquor brand [1]. Price Fluctuations - On December 24, the price of 25-year Flying Moutai in original boxes reached 1600 yuan per bottle, an increase of 40 yuan from the previous day; the price for loose bottles was 1590 yuan, also up by 40 yuan [1]. - The 24-year Flying Moutai in original boxes was priced at 1630 yuan, up 30 yuan, while loose bottles were at 1615 yuan, an increase of 35 yuan [1]. - The most dramatic increase was observed in the Snake Year Moutai, with wholesale prices rising from 1770 yuan to 2000 yuan per bottle, a surge of 230 yuan in just one day [1]. Market Trends - The Snake Year Moutai, as the last product in the first round of zodiac wines, has seen fluctuating demand, with prices previously peaking above 5000 yuan per bottle before stabilizing around 2499 yuan, and dropping to a low of approximately 1750 yuan in the latter half of the year [1]. - The upcoming end of the Snake Year has led to speculation about the potential launch of a new zodiac wine, with reports of packaging for the upcoming Year of the Horse wine circulating among distributors, although official confirmation from Moutai has not been received [1]. Industry Events - The recent price changes may be linked to the Moutai dealer conference scheduled for December 28, where new products and business strategies are expected to be announced, including anticipated reductions in non-standard products [1].

Core Viewpoint - The recent significant price fluctuations of Moutai products are primarily driven by psychological factors rather than changes in market demand, with notable increases in prices observed across various Moutai varieties, particularly the Snake Year Moutai [2][3]. Price Fluctuations - On the 24th, multiple Moutai varieties saw substantial price increases, with the Snake Year Moutai experiencing a dramatic rise of 230 yuan per bottle, prompting reactions from merchants [2]. - The 25-Year Flying Moutai's price rose by 40 yuan per bottle to 1600 yuan, while the prices of other varieties like the scattered Flying Moutai and Shengle Flying Moutai increased by 100 yuan and 170 yuan per bottle, respectively [2]. - The wholesale price of the Snake Year Moutai, which had previously dropped to around 1750 yuan per bottle, surged from 1770 yuan to 2000 yuan [2]. Market Demand and Psychological Factors - Several interviewed merchants indicated that the market demand for Moutai has not changed significantly, attributing the price increases to psychological factors and inter-merchant demand [3]. - Some merchants speculated that the price increase of the Snake Year Moutai might be related to its impending discontinuation, although they believe the potential for further price rebounds is limited [3]. Upcoming Events and Industry Speculation - The upcoming Moutai distributor conference on December 28 is anticipated to influence price dynamics, with expectations of new product announcements and operational strategies, including potential reductions in non-standard products [3]. - There is also speculation regarding the release of a new zodiac wine following the Snake Year, with some merchants sharing packaging for the upcoming Horse Year zodiac wine [3].