瑞达期货鸡蛋产业日报-20250506

Group 1: Report Industry Investment Rating - The report suggests short - term wait - and - see due to the weakening of the futures market following the decline in spot prices [2] Group 2: Core Viewpoints - Corn price increases support egg costs, but the high layer hen inventory and new production from previously replenished hens lead to sufficient egg supply [2] - After the festival atmosphere fades, downstream terminal purchasing power weakens, causing egg prices to decline [2] - Weak spot prices drag down the futures market. If spot prices remain low, it may boost old - hen culling and reduce replenishment, which is beneficial for long - term prices [2] Group 3: Summary by Relevant Catalogs Futures Market - The closing price of the active egg futures contract is 2884 yuan/500 kilograms, down 58 yuan; the net long position of the top 20 futures holders is - 3925 lots, down 1023 lots [2] - The egg futures monthly spread (9 - 1) is 112 yuan/500 kilograms, up 2 yuan; the futures open interest of the active contract is 119831 lots, up 1153 lots; the registered warehouse receipts are 0 lots [2] Spot Market - The spot price of eggs is 3.17 yuan/jin, down 0.04 yuan; the basis (spot - futures) is 289 yuan/500 kilograms, up 23 yuan [2] Upstream Situation - The national layer hen inventory index is 112.35 (2015 = 100), down 4.09; the national culled layer hen index is 96.76 (2015 = 100), down 21.67 [2] - The average price of layer chicks in the main production areas is 4.2 yuan/feather, down 0.05 yuan; the national new - chick index is 138.68 (2015 = 100), up 23.55 [2] - The average price of layer compound feed is 2.76 yuan/kg, up 0.02 yuan; the layer farming profit is - 0.15 yuan/hen, down 0.2 yuan [2] - The average price of culled hens in the main production areas is 10.48 yuan/kg, up 0.1 yuan; the national culling age of hens is 510 days, down 6 days [2] Industry Situation - The average wholesale price of pork is 20.96 yuan/kg, up 0.37 yuan; the average wholesale price of 28 key - monitored vegetables is 4.35 yuan/kg, down 0.04 yuan [2] - The average wholesale price of dressed chickens is 17.09 yuan/kg, down 0.02 yuan; the weekly inventory in the circulation link is 1.28 days, up 0.29 days [2] - The weekly inventory in the production link is 1.16 days, up 0.27 days; the monthly export volume of fresh eggs is 10714.73 tons, down 506.3 tons [2] Downstream Situation - The weekly egg consumption in the sales areas is 8996 tons, up 4 tons [2] Industry News - The average egg price in Shandong is 6.32 yuan/kg, up 0.02 yuan; in Hebei, it is 6.15 yuan/kg, down 0.06 yuan; in Guangdong, it is 6.63 yuan/kg, down 0.20 yuan; in Beijing, it is 6.88 yuan/kg, unchanged [2] - Corn price increases support egg costs, but the high layer hen inventory and new production lead to sufficient egg supply; post - festival, downstream demand weakens, causing egg prices to decline [2]