瑞达期货鸡蛋产业日报-20260304

Report Industry Investment Rating - Not provided Core Viewpoints - The supply side has high inventory and slow old - hen culling, with overall sufficient supply. The demand side is in the post - holiday off - season. After the Lantern Festival stocking, terminal consumption is weak, and spot prices remain in low - level fluctuations. However, with the resumption of work and production of enterprises, market sales have slightly improved, and feed costs are relatively stable. Most farmers are at the break - even or slightly profitable state, leading to significant differences in market sentiment. On the futures side, the culling of old hens slowed down significantly in February. Under the high inventory, futures prices have been generally weak and fluctuating after the festival, and short - term participation is recommended [2] Summary by Relevant Catalogs Futures Market - The futures closing price of the active egg contract is 3209 yuan/500 kilograms, with a week - on - week increase of 12; the net long position of the top 20 futures holders is - 2276 hands, with a week - on - week increase of 3147; the egg futures spread between May and September is - 415 yuan/500 kilograms, with a week - on - week increase of 19; the futures trading volume of the active contract is 97607 hands, with a week - on - week decrease of 11990; the registered warehouse receipt volume is 2 hands, with a week - on - week decrease of 28 [2] 现货市场 - The spot price of eggs is 2.98 yuan/jin, with a week - on - week decrease of 0.08; the basis (spot - futures) is - 234 yuan/500 kilograms, with a week - on - week decrease of 95 [2] 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 3.3 yuan/chick, with a week - on - week increase of 0.1; the national new - 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 2.8 yuan/kg, with no week - on - week change; the breeding profit of laying hens is - 0.49 yuan/hen, with a week - on - week decrease of 0.4; the average price of culled hens in the main production areas is 8.86 yuan/kg, with no week - on - week change; the national average age of culled hens is 500 days, with no month - on - month change [2] Industry Situation - The average wholesale price of pork is 17.2 yuan/kg, with a week - on - week decrease of 0.02; the average wholesale price of 28 key - monitored vegetables is 5.13 yuan/kg, with a week - on - week decrease of 0.04; the average wholesale price of dressed chickens is 17.29 yuan/kg, with a week - on - week decrease of 0.2; the weekly inventory in the circulation link is 1.18 days, with a week - on - week decrease of 0.08; the weekly inventory in the production link is 1.29 days, with a week - on - week increase of 0.05; the monthly export volume of fresh eggs is 14898.72 tons, with a month - on - month increase of 1853.2 [2] Downstream Situation - The weekly consumption of eggs in the sales areas is 4278 tons, with a week - on - week decrease of 2112 [2] Industry News - Today, the average price of eggs in Shandong, the main production area, is 5.94 yuan/kg, a decrease of 0.17 from yesterday; the average price in Hebei is 5.70 yuan/kg, a decrease of 0.15 from yesterday; the average price in Guangdong is 6.27 yuan/kg, the same as yesterday; the average price in Beijing is 6.20 yuan/kg, a decrease of 0.12 from yesterday [2]