Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-07-14 11:19Report Summary 1) Report Industry Investment Rating No information provided in the given content. 2) Core View of the Report The egg price has been at a relatively low level compared to the same period, and the breeding end has been in a state of continuous loss. However, after the price reaches a relatively low level, the process of old - hen culling has accelerated, reducing the inventory expectation. The egg - laying rate of laying hens in some areas has declined due to high - temperature weather, alleviating the short - term market supply pressure. Coupled with the gradual recovery of terminal demand, the egg price has rebounded. The decline of the futures market has also slowed down, and it is recommended to try to go long on the far - month contracts with a light position [2]. 3) Summary by Relevant Catalogs Futures Market - The closing price of the active egg futures contract is 3461 yuan/500 kilograms, with a week - on - week increase of 19; the net long position of the top 20 futures holders is - 27512 hands, with a week - on - week increase of 1339 [2]. - The monthly spread of egg futures (9 - 1) is - 10 yuan/500 kilograms, with a week - on - week increase of 22; the trading volume of the active futures contract is 99503 hands, with a week - on - week decrease of 11564 [2]. - The registered warehouse receipt volume of eggs is 24 hands, with no week - on - week change [2]. Spot Market - The spot price of eggs is 2.78 yuan/jin, with a week - on - week increase of 0.19; the basis (spot - futures) is - 676 yuan/500 kilograms, with a week - on - week increase of 170 [2]. Upstream Situation - The national laying - hen inventory index is 110.89 (2015 = 100), with a month - on - month decrease of 1.46; the national culled laying - hen index is 108.68 (2015 = 100), with a month - on - month increase of 11.92 [2]. - The average price of laying - hen chicks in the main production areas is 3.9 yuan/chick, with no week - on - week change; the national new - chick index is 106.78 (2015 = 100), with a month - on - month decrease of 31.9 [2]. - The average price of laying - hen compound feed is 2.72 yuan/kg, with no week - on - week change; the breeding profit of laying hens is - 0.69 yuan/hen, with a week - on - week decrease of 0.11 [2]. - The average price of culled hens in the main production areas is 9.2 yuan/kg, with a week - on - week decrease of 0.2; the average age of culled hens in the country is 506 days, with a month - on - month decrease of 4 [2]. Industry Situation - The average wholesale price of pork is 20.6 yuan/kg; the average wholesale price of 28 key - monitored vegetables is 4.41 yuan/kg, with a week - on - week decrease of 0.01 [2]. - The average wholesale price of white - striped chickens is 17.21 yuan/kg; the weekly inventory in the circulation link is 1.17 days, with a week - on - week decrease of 0.1 [2]. - The weekly inventory in the production link is 1.05 days, with a week - on - week decrease of 0.09; the monthly export volume of fresh eggs is 12792.51 tons, with a month - on - month decrease of 110.81 [2]. Downstream Situation The weekly consumption of eggs in the sales areas is 7606 tons, with a week - on - week decrease of 331 [2]. Industry News - The average price of eggs in Shandong, the main production area, is 5.52 yuan/kg, with an increase of 0.49 compared to yesterday; the average price of eggs in Hebei is 5.19 yuan/kg, with an increase of 0.60 compared to yesterday [2]. - The average price of eggs in Guangdong is 6.40 yuan/kg, with an increase of 0.60 compared to yesterday; the average price of eggs in Beijing is 5.60 yuan/kg, with an increase of 0.40 compared to yesterday [2].