鸡蛋周报：饲料成本增加，蛋价稳定为主-20260313

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - The egg market this week showed a situation where feed costs increased while egg prices remained stable. The egg price rebounded initially but lacked sustained upward momentum due to insufficient terminal consumption. The overall supply and demand situation was complex, and the trading strategy suggested considering shorting the June contract [5][13][17] 3. Summary by Directory 3.1 Logic Analysis and Trading Strategy 3.1.1 Spot Analysis - This week, the average price of eggs in the main producing areas was 3.08 yuan per catty, up 0.15 yuan per catty from last Friday, and the average price in the main selling areas was 3.27 yuan per catty, up 0.16 yuan per catty from last Friday. The egg price rebounded initially but lacked sustained upward momentum due to insufficient terminal consumption. The price of broilers remained stable this week [5] 3.1.2 Supply Analysis - The egg shipment volume in the main producing areas showed a trend of rising first and then falling. The total volume fluctuated little. From March 13th, the weekly egg - chicken culling volume in the national main producing areas was 12.6 million, a 15% increase from the previous week. The average culling age of culled chickens was 505 days, 3 days more than the previous week. In February, the national inventory of laying hens was 1.35 billion, a 0.06 - billion increase from the previous month and a 3.4% year - on - year increase. The monthly egg - chicken chick output of sample enterprises in February was 43.3 million, with little change month - on - month and a 5% year - on - year decrease [10] 3.1.3 Cost Analysis - The feed cost increased this week. As of March 12th, the corn price was around 2440 yuan per ton, the soybean meal price was 3384 yuan per ton, and the comprehensive feed cost was about 2723 yuan per ton, equivalent to about 3 yuan per catty of eggs. The cost of eggs per catty increased slightly month - on - month. The average weekly profit per catty of eggs was - 0.31 yuan per catty, a 0.02 - yuan decrease from the previous week. On March 6th, the expected profit of egg - chicken farming was - 11.18 yuan per bird, a 0.67 - yuan decrease from the previous week [13] 3.1.4 Demand Analysis - The price in the main selling areas increased following the producing areas. The egg sales volume in the national representative selling areas was 6864 tons, a 4.3% increase from last week. The inventory in the production link decreased month - on - month, while the inventory in the circulation link increased slightly. The vegetable price index and pork price rebounded slightly [16] 3.1.5 Trading Strategy - The trading logic is that the overall capacity reduction has slowed down. It is recommended to consider shorting the June contract on rallies. For single - side trading, consider shorting the June contract on rallies; for arbitrage and options, it is recommended to wait and see [17] 3.2 Weekly Data Tracking 3.2.1 Egg - Chicken Farming Situation - No specific data or analysis content provided 3.2.2 Spread and Basis - The report presents the basis and spread data of different contract months such as January, May, and September over the years [24][25][28]