Core Insights - The overall prices of grains and oils in Qingdao remain stable, while prices for live pigs, eggs, and vegetables have decreased [1] Grain Prices - The average price of first-grade long-grain rice is 3.23 yuan per 500 grams, unchanged from last week, up 0.62% from last month, and down 1.82% year-on-year [2] - The average price of special-grade flour is 2.36 yuan, stable compared to last week and last month, and down 1.67% year-on-year [2] - The average price of wheat is 1.22 yuan, stable week-on-week and month-on-month, with a year-on-year increase of 3.39% [2] - The average price of corn is 1.12 yuan, unchanged from last week and last month, with a year-on-year increase of 4.67% [2] Oil and Oilseed Prices - The average price of 5-liter bottled peanut oil is 120.53 yuan, stable week-on-week, down 0.44% month-on-month, and down 1.06% year-on-year [3] - The average price of 5-liter bottled soybean oil is 60.34 yuan, unchanged from last week, up 0.32% from last month, and down 0.23% year-on-year [3] - The average price of soybeans is 4.27 yuan, stable compared to last week and last month, and down 2.29% year-on-year [3] - The average price of peanuts is 7.52 yuan, stable week-on-week, up 1.90% month-on-month, and up 2.17% year-on-year [3] Live Pig Prices - The average price of live pigs is 5.93 yuan, down 2.15% from last week, down 12.02% from last month, and down 22.58% year-on-year [4] - The average price of pork belly is 14.68 yuan, down 0.61% week-on-week, up 3.16% month-on-month, and down 8.48% year-on-year [4] - The average price of lean pork is 15.04 yuan, down 0.27% week-on-week, up 1.69% month-on-month, and down 6.12% year-on-year [4] - The average price of beef is 38.33 yuan, down 0.23% week-on-week, up 1.94% month-on-month, and up 10.21% year-on-year [4] - The average price of lamb is 42.08 yuan, down 0.26% week-on-week, up 1.18% month-on-month, and down 2.59% year-on-year [4] Egg Prices - The average price of eggs is 3.83 yuan, down 4.49% from last week, down 9.88% from last month, and down 3.04% year-on-year [5] - The highest price recorded this week is 3.99 yuan, while the lowest is 3.61 yuan [5] Vegetable Prices - The average wholesale price of vegetables in major markets is 2.63 yuan, down 0.68% from last week, down 2.77% from last month, and up 7.44% year-on-year [6] - The average daily market supply of vegetables is 1,762,700 kilograms, down 8.44% from last week, down 1.91% from last month, and down 3.70% year-on-year [6] - The average retail price of 19 vegetable varieties is 4.97 yuan, down 0.40% from last week, down 0.60% from last month, and up 10.44% year-on-year [6] - Among the 19 vegetable varieties, 7 prices increased, 8 decreased, and 4 remained stable [6]

Core Insights - Qingdao's grain prices have shown slight fluctuations, with declines in edible oil, live pig, and egg prices, while vegetable retail prices have increased [1] Grain Prices - The average price of first-grade long-grain rice is 3.24 yuan per 500 grams, up 0.93% from last week, unchanged from last month, and down 1.52% year-on-year [2] - The average price of special-grade flour is 2.36 yuan, stable compared to last week and last month, and down 1.67% year-on-year [2] - The average price of wheat is 1.22 yuan, unchanged from last week and last month, and up 4.27% year-on-year [2] - The average price of corn is 1.12 yuan, up 0.90% from last week, stable compared to last month, and up 8.74% year-on-year [2] Edible Oil Prices - The average price of 5-liter bottled peanut oil is 120.81 yuan, down 0.12% from last week, down 0.54% from last month, and down 1.00% year-on-year [3] - The average price of 5-liter bottled soybean oil is 60.40 yuan, down 0.23% from last week, down 0.30% from last month, and up 0.30% year-on-year [3] - The average price of soybeans is 4.27 yuan, stable compared to last week, down 0.47% from last month, and down 2.51% year-on-year [3] - The average price of peanuts is 7.44 yuan, up 0.54% from last week, up 0.54% from last month, and up 1.64% year-on-year [3] Live Pig Prices - The average price of live pigs is 6.35 yuan, down 3.79% from last week, down 1.55% from last month, and down 18.06% year-on-year [4] - The average price of pork belly is 14.73 yuan, up 0.27% from last week, up 3.44% from last month, and down 11.95% year-on-year [4] - The average price of lean pork is 15.05 yuan, up 0.53% from last week, up 3.22% from last month, and down 9.88% year-on-year [4] - The average price of beef is 38.31 yuan, up 0.90% from last week, up 2.00% from last month, and up 10.40% year-on-year [4] - The average price of lamb is 41.92 yuan, up 0.31% from last week, up 1.04% from last month, and down 1.09% year-on-year [4] Egg Prices - The average price of eggs is 4.21 yuan, down 5.61% from last week, up 15.03% from last month, and up 1.94% year-on-year [5] - The highest price recorded this week is 4.35 yuan, while the lowest is 4.10 yuan [5] Vegetable Prices - The average wholesale price of vegetables in major markets is 2.65 yuan, down 0.89% from last week, up 11.47% from last month, and up 2.41% year-on-year [6] - The average retail price of 19 vegetable varieties in monitored markets is 4.99 yuan, up 2.67% from last week, up 6.40% from last month, and up 4.39% year-on-year [6] - Among the 19 vegetable varieties, 12 prices increased, 2 decreased, and 5 remained stable [6]

Price Trends Summary - The average price of edible oil and oilseeds has increased, while prices for live pigs and vegetables have decreased [1][4][6] Grain and Oil Prices - The average price of long-grain rice is 3.21 yuan per 500 grams, unchanged from last week, down 0.93% from last month, and down 2.43% year-on-year [2] - The average price of flour is 2.36 yuan, down 0.42% from last week, down 0.42% from last month, and down 1.46% year-on-year [2] - The average price of peanut oil is 133.20 yuan for a 5-liter bottle, unchanged from last week and last month, down 1.13% year-on-year [3] - The average price of soybean oil is 60.56 yuan for a 5-liter bottle, up 0.43% from last week and up 0.30% from last month, down 0.41% year-on-year [3] Livestock Prices - The average price of live pigs is 6.62 yuan, down 1.49% from last week, up 3.92% from last month, and down 17.25% year-on-year [4] - The average price of pork belly is 14.69 yuan, up 2.16% from last week, up 3.38% from last month, and down 12.92% year-on-year [4] - The average price of beef is 37.91 yuan, up 0.64% from last week, up 1.04% from last month, and up 6.55% year-on-year [4] Egg Prices - The average price of eggs is 4.47 yuan, up 2.29% from last week, up 26.27% from last month, and down 5.30% year-on-year [5] Vegetable Prices - The average wholesale price of vegetables is 2.67 yuan, down 1.06% from last week, up 12.54% from last month, and up 2.95% year-on-year [6] - The average retail price of 19 vegetable varieties is 4.80 yuan, down 2.80% from last week, up 1.89% from last month, and down 0.21% year-on-year [6]

Price Trends Summary - The average price of rice (first-grade long grain) has decreased to 3.21 yuan per 500 grams, down 1.06% from last week, 2.43% from last month, and 2.28% from the same period last year [2] - Flour (first-grade) remains stable at 2.37 yuan, up 0.85% from last month but down 1.25% year-on-year [2] - Wheat (medium) price is stable at 1.22 yuan, with a year-on-year increase of 3.39% [2] - Corn (medium) price is stable at 1.12 yuan, with an 8.74% increase compared to last year [2] Oil Prices - The average price of 5-liter bottled peanut oil is 133.20 yuan, unchanged from last week and last month, but down 1.62% year-on-year [3] - The average price of 5-liter bottled soybean oil is 60.35 yuan, stable week-on-week, down 0.33% from last month, and down 0.74% year-on-year [3] - Average soybean price is 4.27 yuan, stable week-on-week, up 0.23% from last month, but down 2.73% year-on-year [3] - Average peanut kernel price is 7.38 yuan, unchanged from last week, down 0.71% from last month, and down 0.94% year-on-year [3] Livestock Prices - The average price of live pigs is 6.74 yuan, up 2.97% from last week and 15.42% from last month, but down 17.45% year-on-year [4] - Average price of pork belly is 14.23 yuan, down 0.28% from last week, up 1.37% from last month, and down 17.45% year-on-year [4] - Average price of lean pork is 14.75 yuan, up 0.93% from last week and 1.50% from last month, down 12.71% year-on-year [4] - Average beef price is 37.70 yuan, up 0.27% from last week, 0.24% from last month, and up 8.65% year-on-year [4] - Average lamb price is 41.50 yuan, stable week-on-week, up 0.70% from last month, down 2.01% year-on-year [4] Egg Prices - The average price of eggs is 4.04 yuan, up 8.27% from last week and 11.65% from last month, but down 19.44% year-on-year [5] - The highest price for eggs this week is 4.40 yuan, while the lowest is 3.80 yuan [5] Vegetable Prices - The average wholesale price of vegetables in major markets is 2.61 yuan, up 2.27% from last week, 4.57% from last month, and 8.12% year-on-year [6] - The average retail price of 19 vegetable varieties in monitored markets is 4.93 yuan, up 5.12% from last week, down 0.60% from last month, and up 12.81% year-on-year [6] - Among the 19 vegetable varieties, 15 prices increased, 1 decreased, and 3 remained stable [6]

Price Fluctuations in Qingdao - Grain prices in Qingdao experienced slight fluctuations, with some oil prices rising and retail prices for eggs, live pigs, and vegetables showing a small decline [1] Grain Prices - The average price of first-grade long-grain rice is 3.29 yuan per 500 grams, down 0.30% from last week, up 0.17% from last month, and unchanged from last year [2] - The average price of special-grade flour is 2.35 yuan, up 0.43% from last week, unchanged from last month, and down 2.89% from last year [2] - The average price of medium wheat is 1.22 yuan, up 0.83% from last week, up 1.67% from last month, and up 0.83% from last year [2] - The average price of medium corn is 1.11 yuan, up 0.91% from last week, down 0.38% from last month, and up 3.74% from last year [2] Oil Prices - The average price of 5-liter bottled peanut oil is 133.10 yuan, unchanged from last week and last month, down 1.55% from last year [3] - The average price of 5-liter bottled soybean oil is 60.16 yuan, up 0.60% from last week, up 1.62% from last month, and up 0.93% from last year [3] - The average price of soybeans is 4.28 yuan, up 0.50% from both last week and last month, down 2.69% from last year [3] - The average price of peanuts is 7.43 yuan, up 0.39% from last week, up 0.46% from last month, and up 0.12% from last year [3] Live Pig Prices - The average price of live pigs is 5.93 yuan, down 1.33% from last week, down 3.73% from last month, and down 27.59% from last year [4] - The average price of pork belly is 14.20 yuan, down 0.70% from last week, down 2.17% from last month, and down 18.04% from last year [4] - The average price of lean pork is 14.40 yuan, down 0.69% from last week, down 1.66% from last month, and down 18.30% from last year [4] - The average price of beef is 37.44 yuan, up 0.11% from last week, down 0.80% from last month, and up 4% from last year [4] - The average price of lamb is 41.20 yuan, down 0.51% from last week, down 2.67% from last month, and down 1.32% from last year [4] Egg Prices - The average price of eggs is 3.44 yuan, down 0.86% from last week, down 0.82% from last month, and down 30.36% from last year [5] - The highest price for eggs this week is 3.60 yuan, and the lowest is 3.30 yuan [5] Vegetable Prices - The average wholesale price of vegetables in major markets is 2.22 yuan, up 2.36% from last week, down 21.86% from last month, and down 0.42% from last year [6] - The average retail price of 19 vegetable varieties is 4.61 yuan, down 2.95% from last week, down 3.35% from last month, and down 2.74% from last year [6] - Among the 19 vegetable varieties, prices for 3 increased, 6 decreased, and 10 remained stable [6]

Price Trends Overview - Oil prices in Qingdao experienced slight fluctuations, while egg prices remained stable, and wholesale prices for live pigs and vegetables saw a minor decline [1] Grain Prices - The average price of first-grade long-grain rice is 3.30 yuan per 500 grams, unchanged from last week, up 0.92% from last month, and up 0.30% year-on-year [2] - The average price of special-grade flour is 2.34 yuan, stable compared to last week, down 0.43% from last month, and down 3.31% year-on-year [2] - The average price of medium wheat is 1.21 yuan, unchanged from last week, up 0.83% from last month, and down 0.82% year-on-year [2] - The average price of medium corn is 1.10 yuan, stable compared to last week, down 1.79% from last month, and up 1.85% year-on-year [2] Oil Prices - The average price of 5-liter bottled peanut oil is 133.10 yuan, stable compared to last week and last month, down 1.55% year-on-year [3] - The average price of 5-liter bottled soybean oil is 59.80 yuan, up 0.50% from last week, up 0.17% from last month, and up 0.34% year-on-year [3] - The average price of soybeans is 4.26 yuan, up 0.47% from last week, stable compared to last month, and down 3.18% year-on-year [3] - The average price of peanuts is 7.40 yuan, up 0.27% from both last week and last month, and up 0.20% year-on-year [3] Live Pig Prices - The average price of live pigs is 6.01 yuan, down 2.44% from last week, up 1.35% from last month, and down 27.50% year-on-year [4] - The average price of pork belly is 14.30 yuan, down 0.21% from last week, down 2.72% from last month, and down 18.75% year-on-year [4] - The average price of lean pork is 14.50 yuan, down 0.21% from last week, down 1.98% from last month, and down 18.99% year-on-year [4] - The average price of beef is 37.40 yuan, down 0.27% from last week, down 1.95% from last month, and up 2.89% year-on-year [4] - The average price of lamb is 41.41 yuan, down 0.70% from last week, down 2.33% from last month, and down 0.93% year-on-year [4] Egg Prices - The average price of eggs is 3.47 yuan, stable compared to last week, down 2.02% from last month, and down 30.46% year-on-year [5] - The highest price for eggs this week is 3.70 yuan, while the lowest is 3.30 yuan [5] Vegetable Prices - The average wholesale price of vegetables in major markets is 2.17 yuan, down 13.59% from last week, down 22.33% from last month, and up 1.65% year-on-year [6] - The average daily market supply of vegetables is 2,008,300 kilograms, up 1.43% from last week, up 0.42% from last month, and up 0.82% year-on-year [6] - The average retail price of 19 vegetable varieties is 4.75 yuan, stable compared to last week, up 6.03% from last month, and up 13.37% year-on-year [6] - Among the 19 vegetable varieties, prices for 6 increased, 7 decreased, and 6 remained stable [6]

Price Fluctuations in Qingdao - Grain prices experienced slight fluctuations, with rice prices increasing while flour and wheat prices decreased [2][4] - Oil prices showed a slight decline, with peanut oil and soybean oil prices remaining stable compared to previous weeks [3] - Pork prices saw a narrowing increase, with average prices down significantly compared to last year [4] Specific Price Changes - Average price of rice (first-grade long grain) is 3.31 yuan per 500 grams, up 0.78% week-on-week and 1.85% month-on-month [2] - Average price of flour (special grade) is 2.33 yuan, down 0.85% week-on-week and year-on-year down 3.32% [2] - Average price of corn is 1.10 yuan, down 0.90% week-on-week but up 3.34% year-on-year [2] Livestock and Egg Prices - Average price of live pigs is 6.26 yuan, up 1.62% week-on-week but down 28.25% year-on-year [4] - Average price of eggs is 3.39 yuan, down 2.22% week-on-week and 34.21% year-on-year [5] Vegetable Price Trends - Average wholesale price of vegetables is 2.82 yuan, down 0.70% week-on-week and 1.87% year-on-year [6] - Average retail price of vegetables in monitored markets is 4.74 yuan, down 0.62% week-on-week but up 10.75% month-on-month [6]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - In November, the macro environment enters a vacuum period, and major asset classes lack further positive drivers. The market needs to digest previous gains, so major assets may enter a short - term shock period. However, the overall allocation strategy for the fourth quarter remains unchanged, and the macro environment is still favorable for risk assets. It is recommended that investors allocate major asset classes evenly in the fourth quarter, hold long positions in stock indices, non - ferrous metals (copper, lithium carbonate, aluminum, tin), and precious metals, and increase positions appropriately if there is a correction in the fourth quarter [8]. 3. Summary by Sections 2.1 Macro Highlights - **Overseas Macro**: This week, the global macro focus is on changes in US dollar liquidity. Although there is a short - term tightening trend, it is not expected to have a significant impact on major asset prices. There are two factors that may improve US dollar liquidity: marginal easing of monetary policy and the normal release of funds in the TGA account once the US government resumes work [8]. - **Domestic Macro**: In October, China's export volume growth was weaker than expected and the previous value, and the month - on - month performance was also weaker than the seasonal average. However, more positive information was found in the October inflation data. Additionally, there is a possibility that the October consumption data may slightly exceed expectations [8]. 2.2 View Highlights Financial - **Stock Index Futures**: Driven by technology events, the growth style is active. With the congestion of small - cap funds, it is expected to fluctuate and rise [9]. - **Stock Index Options**: The overall market trading volume has slightly declined. With the option market liquidity falling short of expectations, it is expected to fluctuate [9]. - **Treasury Bond Futures**: The bond market continues to be weak. Considering factors such as policy, fundamental recovery, and tariffs, it is expected to fluctuate [9]. Precious Metals - **Gold/Silver**: With the easing of geopolitical and trade tensions, precious metals are in a phased adjustment. Affected by the US fundamentals, Fed's monetary policy, and global equity market trends, it is expected to fluctuate [9]. Shipping - **Container Shipping to Europe**: As the peak season in the third quarter fades, there is pressure on loading and a lack of upward drivers. Pay attention to the rate of freight decline in September, and it is expected to fluctuate [9]. Black Building Materials - **Steel**: In the off - season, demand is under pressure, and the futures price has fallen from a high level. Pay attention to the progress of special bond issuance, steel exports, and molten iron production, and it is expected to fluctuate [9]. - **Iron Ore**: The pressure of inventory accumulation is released in advance, and the supply - demand relationship is expected to improve. Affected by overseas mine production and shipment, domestic molten iron production, weather, port inventory, and policy, it is expected to fluctuate [9]. - **Coke**: Three rounds of price increases have been implemented, and a fourth round is proposed. Pay attention to steel mill production, coking costs, and macro sentiment, and it is expected to fluctuate [9]. Non - ferrous Metals and New Materials - **Copper**: Due to the tight US dollar liquidity, the copper price is in a short - term adjustment. Affected by supply disruptions, domestic policies, Fed's policy, and domestic demand, it is expected to fluctuate [9]. - **Aluminum**: With the linkage between stocks and futures, the aluminum price is expected to fluctuate and rise. However, it is affected by macro risks, supply disruptions, and demand [9]. - **Lithium Carbonate**: The resumption of production is uncertain, and there is a risk of significant price fluctuations. Affected by demand, supply, and new technologies, it is expected to fluctuate [9]. Energy and Chemicals - **Crude Oil**: Supply pressure persists, and geopolitical risks remain. Affected by OPEC+ production policies and the Middle East geopolitical situation, it is expected to fluctuate [11]. - **LPG**: Supply is still in surplus. Pay attention to the cost side, such as crude oil and overseas propane, and it is expected to fluctuate [11]. - **Low - Sulfur Fuel Oil**: With the strength of refined oil products, it may run strongly. Affected by crude oil prices, it is expected to fluctuate and rise [11]. Agriculture - **Pig**: There is a game between supply and demand, and the pig price is expected to fluctuate and fall. Affected by breeding sentiment, epidemics, and policies [11]. - **Natural Rubber**: The futures price rebounds strongly, and its sustainability needs attention. Affected by production area weather, raw material prices, and macro changes, it is expected to fluctuate and fall [11]. - **Cotton**: The price fluctuation range is limited. Affected by demand and inventory, it is expected to fluctuate [11].

Grain Prices - Grain prices remain stable, with average prices for various grains showing slight fluctuations. For instance, the average price of long-grain rice is 3.26 yuan per 500 grams, up 0.31% from last week but down 0.61% from last month and 2.27% from last year [2] - Wheat and corn prices are stable, with wheat at 1.18 yuan and corn at 1.19 yuan, both unchanged from last week [2] Edible Oil and Oilseed Prices - The prices of edible oils are stable, with 5-liter bottled peanut oil averaging 133.10 yuan, unchanged from last week and last month, but down 2.02% from last year [3] - Soybean prices remain stable at 4.34 yuan, while peanut prices have increased by 0.40% from last month to 7.46 yuan [3] Pork Prices - The average price of live pigs is 7.07 yuan, down 0.18% from last week and 33.09% from last year, indicating a narrowing decline [4] - Prices for various pork cuts, such as five-spice meat and lean meat, remain stable compared to last week, with five-spice meat at 15.50 yuan and lean meat at 15.70 yuan [4] Egg Prices - Egg prices have seen a slight rebound, with an average price of 3.73 yuan, up 3.65% from last week and 3.08% from last month, although down 32.07% from last year [5] Vegetable Prices - Vegetable prices continue to rise, with average wholesale prices at 2.60 yuan, up 7.93% from last week and 24.86% from last month, but down 12.46% from last year [6] - Retail prices for vegetables have also increased, averaging 3.89 yuan, up 3.73% from last week and 3.46% from last month [6]

Core Insights - In July, the prices of consumer goods in large supermarkets in Dezhou, Shandong Province showed a slight upward trend, with an overall increase of 0.23% compared to the previous month [1][2] Price Monitoring Summary - Among the 55 monitored grain and oil products, 18 items saw an average price increase, 19 items decreased, and 18 items remained stable [1] - The price changes for 34 items were within 2%, accounting for 61.82% of the monitored products [1] - Prices for aquatic products decreased slightly, while vegetable prices continued to rise [2] Specific Price Changes - **Grains and Oils**: - Millet: 5.23 yuan (up 0.19%) - Peanut: 7.39 yuan (up 3.21%) - Soybean: 4.24 yuan (up 0.71%) - Other staples like flour, noodles, and rice remained stable [1] - **Meat and Eggs**: - Pork: 15.25 yuan (up 0.26%) - Fresh beef: 34.95 yuan (up 0.87%) - Fresh lamb: 41.04 yuan (down 0.12%) - Chicken: 7.76 yuan (down 4.08%) - Eggs: 3.02 yuan (down 0.33%) [1] - **Aquatic Products**: - Prices for various fish and shrimp showed slight declines, with prices for mackerel remaining stable [2] - **Vegetables**: - The average price of 17 monitored vegetable varieties was 3.03 yuan (up 5.21%), with significant increases in items like cabbage and garlic [2] - **Fruits**: - The average price of 5 monitored fruits was 4.27 yuan (down 3.17%), with notable decreases in bananas and watermelons [2]