鸡蛋市场周报：高存栏压力仍存，盘面维持窄幅震荡-20260313

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - This week, the egg price showed a narrow - range slight increase. The closing price of the 2605 contract was 3433 yuan per 500 kilograms, a rise of 44 yuan per 500 kilograms compared to last week. The supply side has a relatively high inventory, and the elimination of old chickens has been slow recently, resulting in sufficient overall supply. The demand side is still in the post - holiday off - season, and the spot price maintains a low - level oscillation. However, with schools fully reopened, factories resuming work, and the early start of Tomb - Sweeping Festival stocking, the off - season demand has been significantly boosted. The feed cost is relatively stable, and the overall atmosphere in the breeding sector is better than previously expected. The egg futures market maintains an oscillating trend, and short - term participation is recommended [6]. 3. Summary According to the Directory 3.1 Week - to - Week Summary - Market Performance: The egg price showed a narrow - range slight increase. The closing price of the 2605 contract was 3433 yuan per 500 kilograms, up 44 yuan per 500 kilograms from last week [6]. - Market Outlook: The supply side has high inventory and slow old - chicken elimination, with sufficient overall supply. The demand side is in the post - holiday off - season, and the spot price is low. But due to school openings, factory resumptions, and early Tomb - Sweeping Festival stocking, the off - season demand is boosted. The feed cost is stable, and the breeding atmosphere is better than expected. The egg futures market oscillates, and short - term participation is advisable [6]. 3.2 Futures and Spot Market - Futures Price and Position: The egg futures May contract closed higher with an oscillating trend. The trading volume was 168,259 lots, a decrease of 7,504 lots from last week. The net position of the top 20 was +669, compared with +1784 last week, showing a slight decrease in net long positions [13]. - Futures Warehouse Receipts: As of Friday, the number of registered egg warehouse receipts was 7 [17]. - Spot Price and Basis: The egg spot price was 3127 yuan per 500 kilograms, a rise of 156 yuan per 500 kilograms from last week. The basis between the May active contract futures price and the spot average price was - 306 yuan per ton [23]. - Futures Inter - month Spread: The spread between the May and July egg futures contracts was - 53 yuan per 500 kilograms, at a medium level in the same period [27]. - Related Product Spot Prices: As of March 12, 2026, the average wholesale price of pork was 16.5 yuan per kilogram, and the average wholesale price of 28 key - monitored vegetables was 4.94 yuan per kilogram [33]. 3.3 Industry Chain Situation - Supply - side Indicators: As of December 31, 2025, the national laying - hen inventory index was 109.28, a month - on - month decrease of 2.45%. The national new - chick index was 71.99, a month - on - month decrease of 23.10% [39]. - Laying - hen Elimination Indicators: As of December 31, 2025, the national laying - hen elimination index was 124.98, a month - on - month increase of 23.52%. The national average age of eliminated chickens was 500 days [44]. - Feed Raw Material Prices: As of March 12, 2026, the average spot price of corn was 2440.39 yuan per ton, and the spot price of soybean meal in Fangcheng was 3350 yuan per ton [48]. - Feed Price and Breeding Profit: As of March 6, 2026, the breeding profit per laying hen was - 0.35 yuan, and the average price of laying - hen compound feed was 2.80 yuan per kilogram [54]. - Prices of Laying - hen Chicks and Eliminated Chickens: As of March 6, 2026, the average price of laying - hen chicks in the main production areas was 3.5 yuan per chick, and the average price of eliminated chickens was 9.88 yuan per kilogram [58]. - Egg Monthly Exports: In December 2025, China's total egg exports were 14,898.72 tons, an increase of 2767.32 tons compared to the same period last year (12,131.40 tons), a year - on - year increase of 22.81%, and an increase of 1853.21 tons compared to the previous month (13,045.52 tons) [64]. 3.4 Representative Company - Xiaoming Co., Ltd.: The report shows the company's price - to - earnings ratio change, but no specific analysis is provided [66].