Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-14 10:25Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View Currently, the egg market is facing an oversupply situation due to high laying - hen inventory, new - laying pressure from previously replenished hens, and continuous cold - storage egg outflows. Meanwhile, terminal demand is weak as high - temperature weather increases demand for egg substitutes. This has led to lower - than - expected spot prices and continuous losses for the breeding sector. However, with school - opening preparations and Mid - Autumn Festival procurement by food factories, demand is expected to pick up, which may drive up egg prices. In the futures market, near - month contracts tend to be weak under the pressure of weak spot prices and high production capacity, while far - month contracts are relatively more resistant to decline [2]. 3. Summary by Relevant Catalog 3.1 Futures Market - The closing price of the active egg futures contract is 3189 yuan/500 kilograms, down 88 yuan; the net long position of the top 20 futures holders is - 28965 hands, up 641 hands; the egg futures monthly spread (1 - 5) is 98 yuan/500 kilograms, up 12 yuan; the open interest of the active contract is 310634 hands, up 157772 hands; the registered warehouse receipt volume is 3 hands [2]. 3.2现货市场 - The spot price of eggs is 3.03 yuan/jin, with a week - on - week change of 0; the basis (spot - futures) is - 158 yuan/500 kilograms, up 88 yuan [2]. 3.3 Upstream Situation - The national laying - hen inventory index is 111.91 (2015 = 100), up 1.02; the national culled laying - hen index is 104.09 (2015 = 100), down 4.59; the average price of day - old chicks in the main production areas is 3.85 yuan/chick, with a week - on - week change of 0; the national new - chick index is 76.07 (2015 = 100), down 30.71; the average price of laying - hen compound feed is 2.7 yuan/kg, with a week - on - week change of 0; the breeding profit of laying hens is - 0.31 yuan/hen, down 0.15 yuan; the average price of culled chickens in the main production areas is 11.34 yuan/kg, down 0.42 yuan; the national culling age of laying hens is 501 days, down 5 days [2]. 3.4 Industry Situation - The average wholesale price of 28 key - monitored vegetables is 20.23 yuan/kg, down 0.02 yuan; the average wholesale price of pork is 4.74 yuan/kg, up 0.04 yuan; the average wholesale price of dressed chickens is 17.39 yuan/kg, up 0.16 yuan; the weekly inventory in the circulation link is 1.23 days, up 0.12 days; the weekly inventory in the production link is 1.09 days, up 0.08 days; the monthly export volume of fresh eggs is 12792.51 tons, down 110.81 tons [2]. 3.5 Downstream Situation - The weekly consumption of eggs in the sales areas is 7529 tons, down 368 tons [2]. 3.6 Industry News - Today, the average egg price in Shandong's main production area is 5.99 yuan/kg, unchanged from yesterday; in Hebei, it is 5.89 yuan/kg, down 0.03 yuan from yesterday; in Guangdong, it is 6.60 yuan/kg, unchanged from yesterday; in Beijing, it is 6.50 yuan/kg, unchanged from yesterday [2].