建信期货鸡蛋日报-20251211

Group 1: General Information - Report date: December 11, 2025 [2] - Reported industry: Eggs [1] - Research team: Agricultural Products Research Team, including Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, and Liu Youran [4] Group 2: Market Review and Operation Suggestions Market Review - The prices of eggs in the futures market fluctuated greatly recently. The 01 contract rose 0.16% today. The main producing areas' average price was 3.08 yuan/jin, up 0.06 yuan/jin from yesterday, and the main selling areas' average price was 3.32 yuan/jin, up 0.04 yuan/jin from yesterday [7]. - The trading volume of the 2601 contract was 166,846, the closing price was 3153, up 5 from the previous settlement price, and the position was 120,698, with an increase of 84,236. The 2602 contract had a trading volume of 94,228, a closing price of 2980, down 27 from the previous settlement price, and a position of 158,973, with an increase of 3,803. The 2603 contract had a trading volume of 102,179, a closing price of 3032, down 43 from the previous settlement price, and a position of 147,831, with an increase of 662 [7]. Core View - Recently, the egg futures were greatly affected by sentiment. The futures prices fluctuated due to the changes in spot prices. Although the red - egg prices rose in some areas last weekend, the powder - egg prices in Hubei and Hunan were weak, which restricted the overall egg - price sentiment. The 01 contract declined weakly due to the withdrawal of funds [8]. - Hubei's powder - egg prices stabilized over the weekend. It is expected that the egg prices in December will have some support. With the demand increase during the double festivals in December and the 01 contract being in the Spring Festival stocking season, the downward space is limited, but the spot - price pressure restricts the futures' upside potential [8]. Operation Suggestions - Pay attention to the support level of 3100 for the 01 contract in the short term. Do not blindly chase the rise or fall as the spot - price changes are small. Keep an eye on the callback and long - buying opportunities of the peak - season contracts next year, and the spread between near - and far - month contracts may continue to widen [8]. Group 3: Industry News Inventory - As of the end of October 2025, the national monthly inventory of laying hens was about 1.359 billion, down 0.66% from September 2025 (1.368 billion) and up 5.59% from October 2024 (1.287 billion) [9]. Replenishment - In October 2025, the monthly hatching volume of laying - hen chicks in sample enterprises was about 39.15 million, slightly less than 39.2 million in September 2025 and significantly less than 44.83 million in the same period of 2024. The total replenishment from July to October 2025 was about 158.14 million, compared with about 176.1 million in the same period of 2024 [9]. Elimination - From the three weeks up to November 20, 2025, the national elimination volume of laying hens was 19.81 million, 19.47 million, and 20.21 million respectively. The elimination volume fluctuated and increased slightly compared with the previous period [9][10]. - As of November 20, 2025, the average elimination age of laying hens was 492 days, one day earlier than last week and seven days earlier than last month, indicating an accelerated elimination speed [10]. Group 4: Data Overview - The report provides multiple data charts, including the monthly inventory of laying hens in China, egg - farming profits, the average price of the main egg - producing areas, the seasonal trend of egg 12, the basis of the egg 12 contract, and the spread between egg 12 - 02 contracts [11][12][15]