建信期货鸡蛋日报-20250522

Report Information - Report Date: May 22, 2025 [2] - Industry: Egg [1] - Research Team: Agricultural Product Research Team [4] - Researchers: Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, Liu Youran [4] 1. Report Industry Investment Rating No relevant information provided. 2. Report's Core View - The current supply of eggs remains high, and the spot price has weakened again after a short - term rebound. The futures market is also showing a weak trend. The 07 contract has a relatively small decline, while the 08 contract is weaker. The near - month basis is at a normal level, with limited future drivers. The 08 contract is in a trend of squeezing out the premium and may show a slight decline in the short term. However, the 08 and 09 contracts are at historically low levels, and investors should wait for the梅雨 season expectations to be realized before entering the market [8] 3. Summary by Directory 3.1行情回顾与操作建议 - Market Review: The national egg price was stable today. The average price in the main production areas was 3.12 yuan/jin, down 0.02 yuan/jin from yesterday; the average price in the main sales areas was 3.18 yuan/jin, unchanged from yesterday. The 07 contract rose 0.20%. The 2506 contract closed at 2838, down 27 or 0.94%; the 2507 contract closed at 2959, up 6 or 0.20%; the 2508 contract closed at 3581, down 29 or 0.80% [7] - Operation Suggestion: The near - month basis is at a normal level in the same period of previous years, with limited future drivers. The 08 contract is in a trend of squeezing out the premium. In the short term, without holiday support, it may show a slight decline. But from an absolute price perspective, the 08 and 09 contracts are at historically low levels. Long - position investors should wait for the梅雨 season expectations to be realized before entering the market [8] 3.2行业要闻 - Laying Hens Inventory: As of the end of April, the national monthly inventory of laying hens was about 1.329 billion, a month - on - month increase of 0.8% and a year - on - year increase of 7.2% [9] - Chick Hatchling Volume: In April, the monthly hatchling volume of sample enterprises was about 46.99 million, an increase compared to March and the same period in 2024, ranking third in the past eight years [9] - Chicken Culling Volume: In the three weeks up to May 16, the national chicken culling volumes were 18.56 million, 17.25 million, and 16.58 million respectively. The culling volume has gradually recovered after the Spring Festival, and the absolute value is slightly higher than the previous two years. The average culling age as of May 15 was 534 days, 1 day earlier than last week and 2 days earlier than last month [9][10] 3.3数据概览 - The report provides multiple data charts, including the monthly inventory of laying hens in China, egg - chicken farming profit, the average price of eggs in the main production areas, the seasonal trend of the 06 contract, the basis of the 06 contract, and the 08 - 09 spread, with data sources from Wind,卓创资讯, and交易法门 [12][14][17]