瑞达期货鸡蛋产业日报-20250717

1. Report Industry Investment Rating - No information provided 2. Core Viewpoint of the Report - Currently, the egg production is sufficient due to high laying - hen inventory and the pressure of new - laying hens from previous restocking. The egg price remains low compared to the same period, and the farming sector is in a loss. However, as the price reaches a relatively low level, the culling of old hens speeds up, reducing the inventory expectation. With the high - temperature weather in many areas, the laying rate of some hens declines, alleviating the short - term supply pressure. The terminal demand is gradually recovering, which drives the egg price to rebound. The downward trend of the futures market has also slowed down, and it is advisable to lightly trade long on the far - month contracts [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the active egg futures contract is 3595 yuan/500 kilograms, the net long position of the top 20 futures holders is - 28595 hands (with a week - on - week increase of 215 hands), the egg futures spread (9 - 1) is 22 yuan/500 kilograms, the futures open interest of the active contract is 242019 hands (with a week - on - week decrease of 4073 hands), and the registered warehouse receipt volume is 0 hands [2] 3.2 Spot Market - The spot price of eggs is 2.91 yuan/jin, and the basis (spot - futures) is - 684 yuan/500 kilograms (with a week - on - week increase of 108 yuan/500 kilograms) [2] 3.3 Upstream Situation - The national laying - hen inventory index is 110.89 (with a month - on - month decrease of 1.46), the national culled laying - hen index is 108.68 (with a month - on - month increase of 11.92), the average price of day - old chicks in the main production areas is 3.9 yuan/chick, the national new - chick index is 106.78 (with a month - on - month decrease of 31.9), the average price of laying - hen compound feed is 2.72 yuan/kg, the egg - chicken farming profit is - 0.69 yuan/hen (with a week - on - week decrease of 0.11 yuan/hen), the average price of culled chickens in the main production areas is 9.2 yuan/kg (with a week - on - week decrease of 0.2 yuan/kg), and the national average age of culled chickens is 506 days (with a month - on - month decrease of 4 days) [2] 3.4 Industry Situation - The average wholesale price of 28 key - monitored vegetables is 4.38 yuan/kg (with a day - on - day increase of 0.01 yuan/kg), the average wholesale price of pork is 20.63 yuan/kg, the average wholesale price of dressed chickens is 17.29 yuan/kg (with a day - on - day increase of 0.15 yuan/kg), the weekly inventory in the circulation link is 1.17 days (with a week - on - week decrease of 0.1 days), the weekly inventory in the production link is 1.05 days (with a week - on - week decrease of 0.09 days), and the monthly export volume of fresh eggs is 12792.51 tons (with a month - on - month decrease of 110.81 tons) [2] 3.5 Downstream Situation - The weekly consumption of eggs in the sales areas is 7606 tons (with a week - on - week decrease of 331 tons) [2] 3.6 Industry News - On July 17, 2025, the national production - link inventory was 0.53 days (a decrease of 0.16 days from the previous day), and the circulation - link inventory was 0.74 days (a decrease of 0.18 days from the previous day) [2]