瑞达期货鸡蛋产业日报-20250722

1. Report Industry Investment Rating - There is no information about the industry investment rating in the report. 2. Core View of the Report - Currently, the egg - laying hen inventory is at a high level, with significant pressure from the newly - opened production of hens supplemented earlier, resulting in sufficient egg supply. In the high - temperature and high - humidity climate, the egg storage cost increases, and downstream dealers are cautious in purchasing, keeping egg prices at a relatively low level compared to the same period. However, after the price reaches a relatively low level, the process of old hen culling accelerates, reducing the inventory expectation. Also, due to the continuous high temperature in many parts of the country, the egg - laying rate of hens in some areas has declined, alleviating the short - term market supply pressure. With the gradual recovery of terminal demand, the farmers' expectation of price increase is released, which promotes the low - level rebound of egg prices. From the perspective of the futures market, boosted by the stabilization and rebound of the spot market, the decline of the futures market has slowed down, and it is advisable to lightly test long positions in far - month contracts [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The futures closing price of the active egg contract is 3621 yuan/500 kilograms, a decrease of 15 yuan compared to the previous period. The net long position of the top 20 futures holders is - 26705 hands, a decrease of 9586 hands. The egg futures monthly spread (9 - 1) is 4 yuan/500 kilograms, a decrease of 15 yuan. The futures trading volume of the active contract is 252239 hands, an increase of 7374 hands. The registered warehouse receipt volume is 0 hands, unchanged [2]. 3.2 Spot Market - The spot price of eggs is 3.27 yuan/jin, an increase of 0.03 yuan. The basis (spot - futures) is - 350 yuan/500 kilograms, an increase of 44 yuan [2]. 3.3 Upstream Situation - The national laying hen inventory index is 111.91 (with 2015 = 100), an increase of 1.02. The national culled laying hen index is 104.09 (with 2015 = 100), a decrease of 4.59. The average price of laying hen chicks in the main production areas is 3.88 yuan/chick, a decrease of 0.02 yuan. The national new - hatched chick index is 76.07 (with 2015 = 100), a decrease of 30.71. The average price of laying hen compound feed is 2.72 yuan/kg, unchanged. The breeding profit of laying hens is - 0.47 yuan/hen, an increase of 0.22 yuan. The average price of culled hens in the main production areas is 9.6 yuan/kg, an increase of 0.4 yuan. The national average age of culled hens is 501 days, a decrease of 5 days [2]. 3.4 Industry Situation - The average wholesale price of pork is 20.74 yuan/kg, a decrease of 0.06 yuan. The average wholesale price of 28 key - monitored vegetables is 4.39 yuan/kg, a decrease of 0.02 yuan. The average wholesale price of white - striped chickens is 17.26 yuan/kg, a decrease of 0.31 yuan. The weekly inventory in the circulation link is 1.04 days, a decrease of 0.13 days. The weekly inventory in the production link is 0.95 days, a decrease of 0.1 days. The monthly export volume of fresh eggs is 12792.51 tons, a decrease of 110.81 tons [2]. 3.5 Downstream Situation - The weekly consumption of eggs in the sales areas is 7886 tons, an increase of 289 tons [2]. 3.6 Industry News - The average price of eggs in Shandong, the main production area, is 6.49 yuan/kg, unchanged from the previous day; the average price of eggs in Hebei is 6.15 yuan/kg, an increase of 0.12 yuan compared to the previous day; the average price of eggs in Guangdong is 7.40 yuan/kg, unchanged from the previous day; the average price of eggs in Beijing is 6.60 yuan/kg, an increase of 0.26 yuan compared to the previous day [2].