Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-11-05 09:32Report Industry Investment Rating - No industry investment rating is provided in the report. Report's Core View - The continuous losses in the breeding sector have led to a decline in the enthusiasm for replenishment and an increase in the culling of old laying hens. The laying hen inventory has slightly decreased, and the market sentiment has slightly improved. However, the in - production laying hen inventory is still at a high level, and there has been no excessive culling of old hens. High production capacity remains the main concern in the market. Recently, the egg futures price has shown a low - level rebound trend. Nevertheless, the high - production capacity pressure still exists, which may limit its rebound space. Caution is advised when chasing up [2]. Summary According to Relevant Catalogs Futures Market - The futures closing price of the active egg contract is 3,217 yuan per 500 kilograms, with a week - on - week increase of 73 yuan. The net long position of the top 20 futures holders of eggs is - 1,752 hands, with a week - on - week increase of 4,663 hands. The monthly spread between the 1 - 5 contracts of egg futures is - 124 yuan per 500 kilograms, with a week - on - week increase of 31 yuan. The futures trading volume of the active egg contract is 174,863 hands, with a week - on - week increase of 7,887 hands. The registered warehouse receipt volume of eggs is 5 hands, with no change [2]. 现货市场 - The spot price of eggs is 2.91 yuan per catty, with a week - on - week increase of 0.01 yuan. The basis (spot - futures) is - 307 yuan per 500 kilograms, with a week - on - week decrease of 63 yuan [2]. Upstream Situation - The national laying hen inventory index (monthly, with 2015 = 100) is 115.26, with a month - on - month increase of 0.86. The national culled laying hen index (monthly, with 2015 = 100) is 124.63, with a month - on - month increase of 31.02. The average price of laying hen chicks in the main production areas (weekly) is 2.8 yuan per chick, with a week - on - week increase of 0.15 yuan. The national new - born chick index (monthly, with 2015 = 100) is 76.65, with a month - on - month increase of 3.3. The average price of laying hen compound feed (weekly) is 2.76 yuan per kilogram, with no change. The breeding profit of laying hens (weekly) is - 0.42 yuan per hen, with a week - on - week increase of 0.03 yuan. The average price of culled hens in the main production areas (weekly) is 8.22 yuan per kilogram, with a week - on - week decrease of 0.36 yuan. The national average age of culled hens (monthly) is 507 days, with a month - on - month decrease of 3 days [2]. Industry Situation - The average wholesale price of pork is 18.19 yuan per kilogram, with a day - on - day increase of 0.17 yuan. The average wholesale price of 28 key - monitored vegetables is 5.77 yuan per kilogram, with a day - on - day increase of 0.01 yuan. The average wholesale price of dressed chickens is 17.71 yuan per kilogram, with a day - on - day increase of 0.49 yuan. The weekly inventory in the circulation link is 1.1 days, with no change. The weekly inventory in the production link is 1.04 days, with no change. The monthly export volume of fresh eggs is 13,215.79 tons, with a month - on - month increase of 94.76 tons [2]. Downstream Situation - The weekly consumption of eggs in the sales areas is 7,658 tons, with a week - on - week increase of 160 tons [2]. Industry News - The average price of eggs in Shandong's main production area is 5.57 yuan per kilogram, unchanged from yesterday; the average price of eggs in Hebei is 5.38 yuan per kilogram, unchanged from yesterday; the average price of eggs in Guangdong is 6.73 yuan per kilogram, unchanged from yesterday; the average price of eggs in Beijing is 5.90 yuan per kilogram, unchanged from yesterday [2].