瑞达期货鸡蛋产业日报-20251209

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - The market is in a game between weak reality and strong expectations. The spot price remains low, the breeding end is still at a loss, and the market's enthusiasm for replenishment is poor, which is beneficial to the forward price. However, the in - production inventory of laying hens is still at a high level, and there is no excessive culling of old hens. High production capacity still restricts the performance of the near - month market price. In the short term, the near - month contract may be in a wide - range shock state, and it is advisable to try to go long on the far - month contract with a light position [2] 3. Summary According to Relevant Catalogs Futures Market - The closing price of the active egg futures contract is 3124 yuan/500 kilograms, a decrease of 29 yuan; the net long position of the top 20 futures holders is - 31630 hands, a decrease of 7028 hands; the monthly spread between January and May contracts is - 457 yuan/500 kilograms, an increase of 27 yuan; the trading volume of the active futures contract is 132996 hands, a decrease of 13490 hands; the registered warehouse receipt volume is 0 hands [2] Spot Market - The spot price of eggs is 3.06 yuan/jin, an increase of 0.02 yuan; the basis (spot - futures) is - 62 yuan/500 kilograms, an increase of 48 yuan [2] Upstream Situation - The national laying - hen inventory index is 114.24 (2015 = 100), a decrease of 1.02; the national culled laying - hen index is 114.44 (2015 = 100), a decrease of 10.19; the average price of laying - hen chicks in the main production areas is 2.85 yuan/feather, an increase of 0.15 yuan; the national new - chick index is 67.09 (2015 = 100), a decrease of 9.56; the average price of laying - hen compound feed is 2.76 yuan/kg, unchanged; the breeding profit of laying hens is - 0.3 yuan/hen, an increase of 0.11 yuan; the average price of culled hens in the main production areas is 7.72 yuan/kg, an increase of 0.12 yuan; the national culling age of hens is 510 days, an increase of 3 days [2] Industry Situation - The average wholesale price of pork is 17.57 yuan/kg, a decrease of 0.09 yuan; the average wholesale price of 28 key - monitored vegetables is 5.91 yuan/kg, a decrease of 0.01 yuan; the average wholesale price of white - striped chickens is 17.94 yuan/kg, an increase of 0.68 yuan; the weekly inventory in the circulation link is 1.14 days, an increase of 0.07 days; the weekly inventory in the production link is 1.06 days, an increase of 0.04 days; the monthly export volume of fresh eggs is 13394.53 tons, an increase of 178.74 tons [2] Downstream Situation - The weekly consumption of eggs in the sales area is 7115 tons, a decrease of 296 tons [2] Industry News - Today, the average price of eggs in Shandong, the main production area, is 6.18 yuan/kg, an increase of 0.03 yuan compared with yesterday; the average price of eggs in Hebei is 5.69 yuan/kg, unchanged from yesterday; the average price of eggs in Guangdong is 6.53 yuan/kg, unchanged from yesterday; the average price of eggs in Beijing is 6.30 yuan/kg, unchanged from yesterday. The continuous losses at the breeding end have led to a decline in the enthusiasm for replenishment and an increase in the culling volume of old hens. The inventory of laying hens has declined slightly, and the market atmosphere has improved slightly [2]