瑞达期货鸡蛋产业日报-20260126

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - The continued losses of the breeding side have led to a decline in replenishment enthusiasm and an increase in the number of old chicken culls. The egg - laying hen inventory has continued to decline from a high level, and the market sentiment has slightly improved. The current replenishment enthusiasm of the breeding side is still lower than the same period last year, which is beneficial to the long - term price. However, the current inventory of laying hens in production is still at a high level. Recently, the Spring Festival stocking sentiment has reached its peak, the inventory at each link has decreased, and some inventories have been cleared. Traders are more active in taking goods, and the turnover speed has accelerated. Egg prices have risen significantly, and the profits of the breeding side have improved, which has slightly slowed down the enthusiasm for culling old chickens. High production capacity still restricts the performance of the near - month market price. From a market perspective, recently, boosted by the continuous rise in spot prices, the market has also oscillated strongly, but the high inventory pressure continues to affect the market trend. It is advisable to participate mainly in short - term long positions [2] 3. Summary of Relevant Catalogs 3.1 Futures Market - The futures closing price (active contract) of eggs is 3069 yuan/500 kilograms, with a month - on - month increase of 23; the net long position of the top 20 futures holders of eggs is 12,568 lots, with a month - on - month increase of 2282; the egg futures monthly spread (5 - 9) is - 387 yuan/500 kilograms, with a month - on - month increase of 32; the futures trading volume (active contract) of eggs is 268,815 lots, with a month - on - month decrease of 2182; the registered warehouse receipt volume of eggs is 0 lots, with no month - on - month change [2] 3.2 Spot Market - The spot price of eggs is 3.92 yuan/jin, with a month - on - month increase of 0.01; the basis (spot - futures) is 846 yuan/500 kilograms, with a month - on - month decrease of 15 [2] 3.3 Upstream Situation - The national laying hen inventory index is 109.28 (with 2015 = 100), with a month - on - month decrease of 2.75; the national culled laying hen index is 124.98 (with 2015 = 100), with a month - on - month increase of 23.8; the average price of laying hen chicks in the main production areas is 3.1 yuan/feather, with a week - on - week increase of 0.1; the national new - born chick index is 71.99 (with 2015 = 100), with a month - on - month decrease of 21.63; the average price of laying hen compound feed is 2.84 yuan/kg, with no week - on - week change; the breeding profit of laying hens is 0.11 yuan/head, with a week - on - week increase of 0.19; the average price of culled chickens in the main production areas is 9.06 yuan/kg, with a week - on - week increase of 0.28; the average age of culled chickens nationwide is 500 days, with no month - on - month change [2] 3.4 Industry Situation - The average wholesale price of pork is 18.65 yuan/kg, with a day - on - day increase of 0.16; the average wholesale price of 28 key - monitored vegetables is 5.61 yuan/kg, with a day - on - day decrease of 0.06; the average wholesale price of white - striped chickens is 16.93 yuan/kg, with a day - on - day decrease of 0.46; the weekly inventory in the circulation link is 1.07 days, with a week - on - week increase of 0.02; the weekly inventory in the production link is 1.02 days, with a week - on - week increase of 0.05; the export volume of fresh eggs in the current month is 14,898.72 tons, with a month - on - month increase of 1853.2 [2] 3.5 Downstream Situation - The weekly consumption of eggs in the sales area is 7210 tons, with a week - on - week decrease of 165 [2] 3.6 Industry News - Today, the average price of eggs in Shandong, the main production area, is 7.91 yuan/kg, unchanged from yesterday; the average price of eggs in Hebei is 7.27 yuan/kg, a decrease of 0.02 from yesterday; the average price of eggs in Guangdong is 8.27 yuan/kg, unchanged from yesterday; the average price of eggs in Beijing is 7.84 yuan/kg, unchanged from yesterday [2]