建信期货鸡蛋日报-20250829

Group 1: General Information - Reported industry: Eggs [1] - Report date: August 29, 2025 [2] - Research team: Agricultural product research team, including researchers Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, and Liu Youran [4] Group 2: Market Review and Operational Suggestions Market Review - Futures Contracts: For the 2509 contract, the previous settlement price was 2909, the closing price was 2843, down 66 or -2.27%, with a trading volume of 39,229 and an open interest of 21,965, a decrease of 15,222. For the 2510 contract, the previous settlement price was 2997, the closing price was 2930, down 67 or -2.24%, with a trading volume of 542,102 and an open interest of 528,944, an increase of 13,068. For the 2511 contract, the previous settlement price was 3047, the closing price was 2960, down 87 or -2.86%, with a trading volume of 190,173 and an open interest of 257,219, an increase of 40,608 [7] - Spot Market: The average price in the main production areas was 3.22 yuan/jin, down 0.03 yuan/jin from the previous day; the average price in the main sales areas was 3.33 yuan/jin, down 0.01 yuan/jin from the previous day. The 10 - contract fell 2.24%. The peak - season spot price started late this year, and the market pressure emerged in late July. The price correction in July was about 0.5 yuan/jin, indicating large supply pressure. In August, the expected spot price rebound did not occur, and the price continued to be under pressure [7] Operational Suggestions - Do not recommend investors to buy at the bottom as there is no technical support and no sign of spot price increase. Wait for the increase in culling volume and the boost from Mid - Autumn Festival and National Day stocking, which may bring a rebound, but it is difficult to time. In general, the egg market has oversupply. If the low egg price affects subsequent replenishment, a fundamental inflection point may appear in the late fourth quarter. Short - term fluctuations may be large, so it is recommended to avoid risks [7] Group 3: Industry News - In - production Laying Hens: As of the end of July, the national monthly inventory of in - production laying hens was about 1.356 billion, a 1.2% month - on - month increase and a 6.2% year - on - year increase, with continuous growth for 7 months [8] - Chick Hatchlings: In July, the monthly hatchling volume of sample enterprises was about 39.98 million, a decrease compared with June and the same period in 2024. The recent low breeding profits have started to change farmers' attitude towards capacity expansion, and the year - on - year decrease in July was the first this year [8][9] - Culling: The culling volume has been increasing recently, the price of culled chickens is under great pressure, and the culling age has been significantly advanced. However, more and longer - term over - culling is needed to restore the supply - demand balance [7]