Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-10-27 09:41Report Industry Investment Rating - No information provided Core Viewpoints - Egg prices are at a low level, and the breeding side has a certain sentiment of supporting prices. Coupled with the drop in temperature, which is conducive to the storage and transportation of eggs, the shipping speed in low - price areas has accelerated, supporting the rebound of spot prices. Driven by the rise in spot prices, the near - month contracts have also strengthened significantly. However, the inventory of laying hens in production is still high, and old hens have not been over - culled. High production capacity is still the main concern of the market, which may limit the upside space. The recent futures prices have also risen, but the high - production capacity pressure still exists, and it is necessary to be cautious about chasing up [2] Summary by Directory Futures Market - The futures closing price of the active egg contract is 3134 yuan/500 kilograms, with a week - on - week increase of 48; the net long position of the top 20 futures holders is - 23326 lots, with a week - on - week decrease of 1261; the monthly spread between contracts 1 - 5 is - 118 yuan/500 kilograms, with a week - on - week increase of 24; the futures open interest of the active contract is 240449 lots, with a week - on - week increase of 6219; the registered warehouse receipt volume is 20 lots, with no week - on - week change [2] 现货市场 - The spot price of eggs is 2.98 yuan/jin, with a week - on - week increase of 0.03; the basis (spot - futures) is - 159 yuan/500 kilograms, with a week - on - week decrease of 17 [2] Upstream Situation - The national laying hen inventory index is 115.26 (with 2015 = 100), with a month - on - month increase of 0.86; the national culled laying hen index is 124.63 (with 2015 = 100), with a month - on - month increase of 31.02; the average price of laying hen chicks in the main production areas is 2.65 yuan/chick, with a week - on - week increase of 0.05; the national new - born chick index is 76.65 (with 2015 = 100), with a month - on - month increase of 3.3; the average price of laying hen compound feed is 2.76 yuan/kg, with a week - on - week increase of 0.01; the breeding profit of laying hens is - 0.45 yuan/hen, with a week - on - week increase of 0.01; the average price of culled hens in the main production areas is 8.58 yuan/kg, with a week - on - week decrease of 0.06; the national culling age of hens is 507 days, with a month - on - month decrease of 3 [2] Industry Situation - The average wholesale price of pork is 17.96 yuan/kg, with a week - on - week increase of 0.23; the average wholesale price of 28 key - monitored vegetables is 5.49 yuan/kg, with a week - on - week increase of 0.12; the average wholesale price of white - striped chickens is 17.58 yuan/kg, with a week - on - week decrease of 0.11; the weekly inventory in the circulation link is 1.1 days, with no week - on - week change; the weekly inventory in the production link is 1.04 days, with a week - on - week decrease of 0.01; the monthly export volume of fresh eggs is 13215.79 tons, with a month - on - month increase of 94.76 [2] Downstream Situation - The weekly consumption of eggs in the sales areas is 7498 tons, with a week - on - week increase of 118 [2] Industry News - The average price of eggs in Shandong's main production area is 5.82 yuan/kg, unchanged from yesterday; the average price of eggs in Hebei is 5.79 yuan/kg, up 0.17 from yesterday; the average price of eggs in Guangdong is 6.73 yuan/kg, up 0.33 from yesterday; the average price of eggs in Beijing is 6.30 yuan/kg, unchanged from yesterday. Egg prices are at a low level, the breeding side has a certain sentiment of supporting prices, and the shipping speed in low - price areas has accelerated, supporting the rebound of spot prices [2]