鸡蛋市场周报：高存栏压力仍存，盘面区间波动-20260327

Group 1: Report Summary and Investment Suggestions - The egg market showed an upward trend this week, with the closing price of the 2605 contract at 3,502 yuan per 500 kilograms, a rise of 93 yuan per 500 kilograms from last week [6]. - The current school openings and factory resumptions, along with early Qingming Festival stockpiling, have significantly boosted off - season demand. High feed costs support the market, and farmers are reluctant to sell, leading to a rebound in spot prices. However, the rising spot prices weaken the expectation of a decline in laying - hen inventory, and the slow culling of old hens results in sufficient supply and future supply pressure. The egg futures market is expected to remain volatile, and short - term trading is recommended [6]. Group 2: Futures and Spot Market Futures Price and Position - The egg futures May contract fluctuated upwards, with a trading volume of 187,480 lots, an increase of 22,347 lots from last week. The net position of the top 20 traders was +25,899, compared to +576 last week, indicating an increase in net long positions [13]. Futures Warehouse Receipts - As of Friday, the number of registered egg warehouse receipts was 20 [17]. Spot Price and Basis - The egg spot price was reported at 3,418 yuan per 500 kilograms, a rise of 124 yuan per 500 kilograms from last week. The basis between the May active contract futures price and the spot average price was - 84 yuan per ton [23]. Futures Inter - month Spread - The spread between the May and July egg futures contracts was 60 yuan per 500 kilograms, at a relatively high level compared to the same period [27]. Related Commodity Spot Prices - As of March 26, 2026, the average wholesale price of pork was 15.65 yuan per kilogram, a month - on - month decrease of 0.95%. The average wholesale price of 28 key monitored vegetables was 4.78 yuan per kilogram, a month - on - month decrease of 1.65% [33]. Group 3: Industrial Chain Supply - side: Inventory and Replenishment - 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]. Culling of Laying Hens - As of December 31, 2025, the national culled laying - hen index was 124.98, a month - on - month increase of 23.52%. The average age of culled hens was 500 days [44]. Feed Raw Material Prices - As of March 26, 2026, the average spot price of corn was 2,452.55 yuan per ton, and the spot price of soybean meal in Fangcheng was 3,260 yuan per ton [48]. Feed Price and Breeding Profit - As of March 27, 2026, the breeding profit of laying hens was - 0.26 yuan per hen. As of March 20, 2026, the average price of laying - hen compound feed was 2.9 yuan per kilogram [54]. Egg - laying Hen Chick and Culled Hen Prices - As of March 20, 2026, the average price of egg - laying hen chicks in the main production areas was 3.6 yuan per chick, and the average price of culled hens was 10.52 yuan per kilogram [58]. Egg Monthly Exports - In February 2026, China's total egg exports were 10,796.37 tons, an increase of 81.63 tons or 0.76% year - on - year compared to 10,714.73 tons in the same period last year, and a decrease of 3,741.98 tons month - on - month compared to 14,538.34 tons in the previous month [63]. Group 4: Representative Company - The report also mentioned the price - earnings ratio change of Xiaoming Co., Ltd [65].