鸡蛋周报：饲料成本增加，蛋价有所上涨-20260323

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The egg market is affected by factors such as feed cost, supply, and demand. Currently, the egg price has increased, but the market lacks continuous upward momentum. The supply is expected to face pressure in the future, and it is recommended to short the June contract [5][13][17] 3. Summary by Directory 3.1 First Part: Logical Analysis and Trading Strategies 3.1.1 Spot Analysis - This week, the average price of eggs in the main producing areas was 3.24 yuan/jin, up 0.16 yuan/jin from last Friday, and the average price in the main selling areas was 3.38 yuan/jin, up 0.1 yuan/jin from last Friday. The egg price rebounded at the beginning of the week but lacked continuous upward momentum, and most producing areas stopped rising and stabilized near the weekend. The price of old hens rose first and then stabilized, and the market supply and demand were in a stalemate [5] 3.1.2 Supply Analysis - The egg shipping volume in the main producing areas showed a trend of rising first and then falling this week. The total volume fluctuated little. From March 13th, the national main producing areas' egg chicken culling volume was 12.6 million, an increase of 15% from the previous week, and the average culling age was 505 days, an increase of 3 days from the previous week. In February, the national in - production laying hen inventory was 1.35 billion, an increase of 60 million from the previous month and 3.4% year - on - year. The monthly egg chicken chick output of sample enterprises in February was 43.3 million, with little change from the previous month and a 5% year - on - year decrease [10] 3.1.3 Cost Analysis - The feed cost increased this week. As of March 20th, the corn price was around 2454 yuan/ton, the soybean meal price was 3372 yuan/ton, and the comprehensive feed cost was about 2729 yuan/ton, equivalent to about 3 yuan/jin for single - jin eggs. The single - jin egg cost increased month - on - month. The average egg price increased this week, so the single - jin egg profit increased. As of March 13th, the weekly average profit per jin of eggs was - 0.31 yuan/jin, a decrease of 0.02 yuan/jin from the previous week. On March 6th, the expected profit of egg chicken farming was - 11.18 yuan/feather, a decrease of 0.67 yuan/jin from the previous week [13] 3.1.4 Demand Analysis - The price in the main selling areas increased synchronously this week. The egg sales volume in the national representative selling areas was 6864 tons, an increase of 4.3% from last week, at a relatively high level in the same period over the years. The production - link inventory decreased month - on - month, and the circulation - link inventory increased month - on - month. The vegetable price index and the pork price rebounded slightly [16] 3.1.5 Trading Strategy - The trading logic is that the overall capacity reduction has slowed down, and it is expected that there will still be supply pressure in the future. It is recommended to short the June contract on rallies. For single - side trading, short the June contract on rallies; for arbitrage and options, it is recommended to wait and see [17] 3.2 Second Part: Weekly Data Tracking 3.2.1 Egg Chicken Farming Situation - Not provided with specific data analysis content in the given text 3.2.2 Spread and Basis - The text provides the basis and spread data of different contract months (such as January, May, September) from 2018 - 2025, but no specific analysis is given [24][25][28]