Report Overview - Report Date: September 16, 2025 [2] - Industry: Eggs [1] - Research Team: Agricultural Products Research Team [4] Investment Rating - Not provided in the report Core Viewpoints - After the weakest summer peak season in recent years, the spot market has gradually stabilized and rebounded. The current rebound is supported by increased elimination and seasonal demand, but supply pressure remains, and the upside of this rebound should not be overestimated. The futures market has made up for the gains due to the strong spot market over the weekend. It is recommended to take profits on long positions at high prices. The fundamental inflection point may appear in the late fourth quarter, and there may still be adjustment space in the short - to - medium term [8] Summary by Section 1. Market Review and Operation Suggestions - Market Review: Over the weekend, national egg prices rose. The average price in the main production areas was 3.66 yuan/jin, up 0.13 yuan/jin from the previous day, and in the main sales areas, it was 3.93 yuan/jin, up 0.22 yuan/jin. The 10 - contract rose 2.90%. The 2510 contract closed at 3126, up 88 or 2.90%; the 2511 contract closed at 3143, up 95 or 3.12%; the 2512 contract closed at 3245, up 70 or 2.20% [7] - Operation Suggestions: Consider taking profits on long positions at high prices. The 10 - contract may enter the delivery month with a high discount. The upside of this rebound should not be overestimated, and the remaining time for spot price increases is about 1 week. Follow - up contract operations need to continuously monitor elimination and replenishment data. The fundamental inflection point may appear in the late fourth quarter, and there may be adjustment space in the short - to - medium term [8] 2. Industry News - In - Production Laying Hens Inventory: As of the end of August, the national monthly inventory of in - production laying hens was about 1.365 billion, up from 1.356 billion at the end of July and 1.34 billion at the end of June, with a month - on - month increase of 0.7% and a year - on - year increase of 6.0% [9] - Chick Hatchling Volume: In August, the monthly hatchling volume of sample enterprises was about 39.81 million, down from 39.98 million in July and significantly lower than 43.95 million in the same period in 2024 [9] - Chicken Culling Volume: As of September 4, the culling volumes in the previous three weeks were 16.76 million, 18.51 million, and 17.89 million respectively. The culling volume has been increasing since August, and the average culling age was 495 days, 1 day earlier than the previous week and 11 days earlier than the previous month [10]
建信期货鸡蛋日报-20250916
Jian Xin Qi Huo·2025-09-16 00:50