鸡蛋市场周报：高产能压制仍存，盘面维持窄幅震荡-20260306

Group 1: Report Summary - The egg market showed a narrow - range fluctuation this week. The closing price of the 2605 contract was 3389 yuan per 500 kilograms, down 40 yuan per 500 kilograms from last week [6]. - The supply side has high inventory, slow old - hen culling, and sufficient overall supply. The demand side is in the post - holiday off - season, with weak terminal consumption and average sales after the Lantern Festival stocking, resulting in low - level oscillation of spot prices [6]. - With enterprises resuming work and production, the market sales have slightly improved. The breeding side has again fallen into losses, which may promote the acceleration of old - hen culling, leading to significant differences in market sentiment. Although the futures price has rebounded slightly in the past two days, the high - inventory pressure still exists, so it is recommended to participate in the short - term [6]. Group 2: Futures and Spot Market Futures Price and Top 20 Positions - The egg futures May contract fluctuated up and down, with a position of 175,763 hands, an increase of 32,739 hands compared to before the holiday. The net position of the top 20 was + 1784, and last week's net position was + 2120, with little change in net long positions [13]. Futures Warehouse Receipts - As of Friday, the registered egg warehouse receipt volume was 0 [17]. Spot Price and Basis - The egg spot price was reported at 2971 yuan per 500 kilograms, an increase of 59 yuan per 500 kilograms compared to last week. The basis between the active May contract futures price and the spot average price was reported at - 418 yuan per ton [23]. Futures Inter - month Spread - The spread between the May and July egg futures was reported at - 107 yuan per 500 kilograms, generally at a relatively low level in the same period [27]. Related Commodity Spot Prices - As of March 5, 2026, the average wholesale price of pork was reported at 17.2 yuan per kilogram, and the average wholesale price of 28 key - monitored vegetables was reported at 5.12 yuan per kilogram [33]. Group 3: Industrial Chain Supply - Side: Inventory Index and Replenishment Enthusiasm - As of December 31, 2025, the national laying - hen inventory index was reported at 109.28, a month - on - month decrease of 2.45%. The national new - chick index was reported at 71.99, a month - on - month decrease of 23.10% [39]. Culling Index and Culling Age - As of December 31, 2025, the national culling laying - hen index was reported at 124.98, a month - on - month increase of 23.52%. The national culling age was 500 days [44]. Feed Raw Material Prices - As of March 5, 2026, the average spot price of corn was reported at 2413.73 yuan per ton, and the spot price of soybean meal in Fangcheng was reported at 3060 yuan per ton [48]. Feed Price and Breeding Profit - As of February 27, 2026, the egg - chicken breeding profit was reported at - 0.49 yuan per chicken, and the average price of egg - chicken compound feed was reported at 2.80 yuan per kilogram [54]. Egg - Chicken Chick and Culled - Chicken Prices - As of February 27, 2026, the average price of egg - chicken chicks in the main production areas was reported at 3.3 yuan per chick, and the average price of culled chickens in the main production areas was reported at 8.86 yuan per kilogram [58]. Egg Monthly Export Volume - In December 2025, the total egg export volume was 14,898.72 tons, an increase of 2,767.32 tons compared to the same period last year (12,131.40 tons), a year - on - year increase of 22.81%, and a month - on - month increase of 1853.21 tons compared to the previous month (13,045.52 tons) [63]. Group 4: Representative Company Xiaoming Co., Ltd. - The report shows the price - to - earnings ratio change of Xiaoming Co., Ltd., with data sourced from wind [65].