1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - Currently, the laying hen inventory is at a high level, and the pressure of newly - opened laying hens from previous replenishments is large, resulting in sufficient egg supply. The decrease in temperature has led to a recovery in the laying rate of laying hens, further increasing the supply pressure. However, due to pre - holiday stocking before the Mid - Autumn Festival and National Day, the recent purchase volume of traders has increased, and the market demand has shown signs of warming up, pushing up egg prices from the bottom and supporting the futures market. Overall, high - production capacity pressure still exists. As the double festivals approach, pre - holiday stocking may be coming to an end, market sales are starting to slow down, and spot prices show signs of a slight decline. The driving force for pushing up the futures price is also insufficient, so short - term trading is recommended in the near future [2] 3. Summary According to Relevant Catalogs 3.1 Futures Market - The closing price of the active egg futures contract is 3065 yuan/500 kilograms, down 10 yuan compared to the previous period. The net long position of the top 20 futures holders is - 10098 hands, an increase of 9051 hands. The egg futures monthly spread (1 - 5) is - 33 yuan/500 kilograms, an increase of 33 yuan. The trading volume of the active futures contract is 371084 hands, a decrease of 22037 hands. The number of registered warehouse receipts is 0 hands [2] 3.2 Spot Market - The spot price of eggs is 3.72 yuan/jin, unchanged from the previous period. The basis (spot - futures) is 659 yuan/500 kilograms, an increase of 10 yuan [2] 3.3 Upstream Situation - The national laying hen inventory index is 114.4 (with 2015 = 100), an increase of 1.22. The national culled laying hen index is 93.61 (with 2015 = 100), a decrease of 5.59. The average price of laying hen chicks in the main production areas is 2.6 yuan/chick, unchanged. The national new - hatched chick index is 73.35 (with 2015 = 100), a decrease of 5.05. The average price of laying hen compound feed is 2.76 yuan/kg, unchanged. The breeding profit of laying hens is 0.17 yuan/hen, an increase of 0.19 yuan. The average price of culled hens in the main production areas is 9.34 yuan/kg, an increase of 0.12 yuan. The average age of culled hens in the country is 510 days, a decrease of 2 days [2] 3.4 Industry Situation - The average wholesale price of pork is 19.56 yuan/kg, an increase of 0.08 yuan. The average wholesale price of 28 key - monitored vegetables is 4.98 yuan/kg, unchanged. The average wholesale price of white - striped chickens is 17.74 yuan/kg, an increase of 0.04 yuan. The weekly inventory in the circulation link is 0.99 days, a decrease of 0.04 days. The weekly inventory in the production link is 0.91 days, a decrease of 0.02 days. The monthly export volume of fresh eggs is 13121.03 tons, an increase of 264.92 tons [2] 3.5 Downstream Situation - The weekly consumption of eggs in the sales areas is 7303 tons, a decrease of 149 tons [2] 3.6 Industry News - Today, the average price of eggs in Shandong, the main production area, is 7.32 yuan/kg, unchanged from yesterday; the average price of eggs in Hebei is 6.99 yuan/kg, a decrease of 0.01 yuan from yesterday; the average price of eggs in Guangdong is 7.53 yuan/kg, unchanged from yesterday; the average price of eggs in Beijing is 7.46 yuan/kg, unchanged from yesterday [2]

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - Egg supply is abundant due to high laying - hen inventory, new - laying pressure from previously replenished hens, and continuous出库 of cold - storage eggs. Terminal demand is weak, and high - temperature weather makes the market cautious. Spot prices are lower than expected, and the breeding end is in a continuous loss state. The slow de - capacity in the industry may continue to restrict egg prices during the school - opening and Mid - Autumn Festival stocking seasons. The futures price generally maintains a weak trend under the pressure of weak spot prices and high production capacity [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The futures closing price of the active egg contract is 2975 yuan/500 kilograms, a decrease of 38 yuan; the net long position of the top 20 futures holders is - 54551 hands, a decrease of 3922 hands; the egg futures monthly spread (1 - 5) is 22 yuan/500 kilograms; the registered warehouse receipt volume is - 77 hands; the futures holding volume of the active contract is 515876 hands, an increase of 44842 hands [2] 3.2现货市场 - The egg spot price is 3.09 yuan/jin, an increase of 0.05 yuan; the basis (spot - futures) is 79 yuan/500 kilograms, an increase of 58 yuan [2] 3.3 Upstream Situation - The national laying - hen inventory index is 113.18 (with 2015 = 100), an increase of 1.27; the national culled laying - hen index is 99.2 (with 2015 = 100), a decrease of 4.89; the average price of egg - chicken chicks in the main production areas is 3.2 yuan/feather, a decrease of 0.4 yuan; the national new - chick index is 78.4 (with 2015 = 100), an increase of 2.33; the average price of egg - chicken compound feed is 2.76 yuan/kilogram, unchanged; the egg - chicken breeding profit is - 0.15 yuan/head, an increase of 0.11 yuan; the average price of culled chickens in the main production areas is 10.1 yuan/kilogram, a decrease of 0.84 yuan; the national culled - chicken age is 512 days, an increase of 11 days [2] 3.4 Industry Situation - The average wholesale price of pork is 19.92 yuan/kilogram, a decrease of 0.09 yuan; the average wholesale price of 28 key - monitored vegetables is 4.9 yuan/kilogram, unchanged; the average wholesale price of white - striped chickens is 17.67 yuan/kilogram, unchanged; the weekly inventory in the circulation link is 1.16 days, an increase of 0.13 days; the weekly inventory in the production link is 1.02 days, an increase of 0.1 days; the monthly export volume of fresh eggs is 12792.51 tons, a decrease of 110.81 tons [2] 3.5 Downstream Situation - The weekly egg consumption in the sales areas is 7439 tons, a decrease of 166 tons [2] 3.6 Industry News - The average egg price in Shandong is 6.35 yuan/kilogram, an increase of 0.15 yuan; in Hebei, it is 6.32 yuan/kilogram, an increase of 0.19 yuan; in Guangdong, it is 6.40 yuan/kilogram, an increase of 0.20 yuan; in Beijing, it is 7.10 yuan/kilogram, an increase of 0.20 yuan. Currently, the laying - hen inventory is high, the new - laying pressure of previously replenished laying hens is large, and the egg supply is sufficient. Cold - storage eggs are continuously出库, increasing the supply pressure [2]

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - Currently, the egg - laying hen inventory is at a high level, and the newly - laid eggs from previously replenished hens exert significant pressure, resulting in sufficient egg supply. The continuous出库 of cold - storage eggs further exacerbates the supply pressure. Meanwhile, terminal demand is weak, and the hot weather makes the market cautious, leading to sluggish demand. Breeding enterprises are more willing to sell at low prices to reduce inventory, causing the spot market price to continuously fall short of expectations, and the breeding sector to remain in a loss state. However, with the start of school - opening stockpiling and the Mid - Autumn Festival procurement by food factories, demand is expected to recover, which may drive up egg prices. From a futures perspective, under the pressure of weak spot prices and high production capacity, futures prices generally maintain a weak trend [2] 3. Summary According to Relevant Catalogs 3.1 Futures Market - The closing price of the active egg futures contract is 3072 yuan/500 kilograms, a week - on - week increase of 7; the net long position of the top 20 futures holders is - 30889 lots, a week - on - week increase of 8393; the egg futures monthly spread (1 - 5) is 32 yuan/500 kilograms, a week - on - week increase of 14; the trading volume of the active egg futures contract is 408484 lots, a week - on - week decrease of 2556; the registered warehouse receipt volume is 0 lots, unchanged from the previous period [2] 3.2 Spot Market - The spot price of eggs is 3.18 yuan/jin, a week - on - week decrease of 0.02; the basis (spot - futures) is 109 yuan/500 kilograms, a week - on - week decrease of 25 [2] 3.3 Upstream Situation - The national egg - laying hen inventory index is 113.18 (with 2015 as the base year, 100), a month - on - month increase of 1.27; the national culled egg - laying hen index is 99.2, a month - on - month decrease of 4.89; the average price of egg - laying chicken chicks in the main producing areas is 3.6 yuan/chick, a week - on - week decrease of 0.25; the national new - born chick index is 78.4, a month - on - month increase of 2.33; the average price of egg - laying chicken compound feed is 2.76 yuan/kg, a week - on - week increase of 0.06; the breeding profit of egg - laying chickens is - 0.26 yuan/hen, a week - on - week increase of 0.05; the average price of culled chickens in the main producing areas is 10.94 yuan/kg, a week - on - week decrease of 0.4; the average age of culled chickens nationwide is 512 days, a month - on - month increase of 11 [2] 3.4 Industry Situation - The average wholesale price of pork is 20.04 yuan/kg, a week - on - week decrease of 0.17; the average wholesale price of 28 key - monitored vegetables is 4.82 yuan/kg, a week - on - week increase of 0.03; the average wholesale price of dressed chickens is 17.59 yuan/kg, a week - on - week increase of 0.17; the weekly inventory in the circulation link is 1.03 days, a week - on - week decrease of 0.2; the weekly inventory in the production link is 0.92 days, a week - on - week decrease of 0.17; the monthly export volume of fresh eggs is 12792.51 tons, a month - on - month decrease of 110.81 [2] 3.5 Downstream Situation - The weekly consumption of eggs in the sales areas is 7605 tons, a week - on - week increase of 76 [2] 3.6 Industry News - Today, the average price of eggs in Shandong, the main producing area, is 6.44 yuan/kg, unchanged from yesterday; the average price of eggs in Hebei is 6.12 yuan/kg, a decrease of 0.02 from yesterday; the average price of eggs in Guangdong is 6.60 yuan/kg, a decrease of 0.20 from yesterday; the average price of eggs in Beijing is 7.00 yuan/kg, unchanged from yesterday [2]

Report Summary 1. Report Industry Investment Rating There is no information provided regarding the industry investment rating in the report. 2. Core View of the Report The current egg supply is abundant due to high laying - hen inventory and the continuous release of cold - storage eggs, while the terminal demand is weak. The spot market price has been lower than expected, and the breeding end is in a continuous loss state. However, with the start of school - opening stockpiling and Mid - Autumn Festival procurement by food factories, demand is expected to pick up, which may drive up egg prices. On the futures side, the futures price generally maintains a weak trend under the pressure of weak spot prices and high production capacity [2]. 3. Summary by Relevant Catalogs Futures Market - The closing price of the active egg futures contract is 3113 yuan/500 kilograms, a decrease of 69 yuan compared to the previous period. The net long position of the top 20 futures holders is - 36492 lots, a decrease of 2952 lots. The monthly spread between the 1 - 5 contracts is 24 yuan/500 kilograms, a decrease of 61 yuan. The trading volume of the active contract is 381680 lots, an increase of 65988 lots. The number of registered warehouse receipts is 0 lots, a decrease of 3 lots [2]. 现货市场 - The spot price of eggs is 3.2 yuan/jin, an increase of 0.13 yuan. The basis (spot - futures) is 86 yuan/500 kilograms, an increase of 202 yuan [2]. Upstream Situation - The national laying - hen inventory index is 113.18 (with 2015 = 100), an increase of 1.27. The national culled laying - hen index is 99.2 (with 2015 = 100), a decrease of 4.89. The average price of day - old chicks in the main production areas is 3.6 yuan/chick, a decrease of 0.25 yuan. The national new - chick index is 78.4 (with 2015 = 100), an increase of 2.33. The average price of compound feed for laying hens is 2.76 yuan/kg, an increase of 0.06 yuan. The breeding profit of laying hens is - 0.26 yuan/hen, an increase of 0.05 yuan. The average price of culled hens in the main production areas is 10.94 yuan/kg, a decrease of 0.4 yuan. The average age of culled hens in the country is 512 days, an increase of 11 days [2]. Industry Situation - The average wholesale price of pork is 20.2 yuan/kg, an increase of 0.15 yuan. The average wholesale price of 28 key - monitored vegetables is 4.77 yuan/kg, an increase of 0.02 yuan. The average wholesale price of dressed chickens is 17.51 yuan/kg, an increase of 0.13 yuan. The weekly inventory in the circulation link is 1.03 days, a decrease of 0.2 days. The weekly inventory in the production link is 0.92 days, a decrease of 0.17 days. The monthly export volume of fresh eggs is 12792.51 tons, a decrease of 110.81 tons [2]. Downstream Situation - The weekly consumption of eggs in the sales areas is 7605 tons, an increase of 76 tons [2]. Industry News - The average price of eggs in Shandong, Hebei, Guangdong, and Beijing in the main production areas has increased. Currently, the laying - hen inventory is at a high level, the pressure of newly - opened laying hens is large, the egg supply is sufficient, and the continuous release of cold - storage eggs has further increased the supply pressure [2]. Key Points to Watch - There is no news today [2].

Report Summary 1) Report Industry Investment Rating No investment rating is provided in the report. 2) Core Viewpoints - Currently, the egg - laying hen inventory is at a high level. The newly - opened production pressure of the hens supplemented earlier is large, resulting in sufficient egg supply. The continuous release of cold - storage eggs further exacerbates the supply pressure. Meanwhile, terminal demand is weak, and the high - temperature weather increases egg consumption substitutes, leading to low market demand for eggs. Farmers' willingness to sell at low prices to reduce inventory increases, causing the spot market price to continuously fall short of expectations. After a previous low - level rebound, the price has recently declined again, and farming has fallen into losses again. [2] - With the start of school - opening stockpiling and the Mid - Autumn Festival procurement by food factories, demand is expected to recover, which may drive up egg prices. [2] - For near - month contracts, after a continuous decline, the stop - profit exit at low levels has boosted the market to rebound. [2] 3) Summary by Relevant Catalogs Futures Market - The futures closing price (active contract) of eggs is 3391 yuan/500 kilograms, with a change of 2092; the net long position of the top 20 futures holders of eggs is - 29913 hands; the egg futures monthly spread (9 - 1) is - 185 yuan/500 kilograms; the futures open interest (active contract) of eggs is 202802 hands, a decrease of 5713 hands; the registered warehouse receipt volume of eggs is 17 hands. [2] 现货市场 - The egg spot price is 2.88 yuan/jin, with a decrease of 0.01; the basis (spot - futures) is - 513 yuan/500 kilograms, a decrease of 23. [2] Upstream Situation - The national laying - hen inventory index is 111.91 (monthly, 2015 = 100), an increase of 1.02; the national culled laying - hen index is 104.09 (monthly, 2015 = 100), a decrease of 4.59; the average price of laying - hen chicks in the main production areas is 3.85 yuan/feather, a decrease of 0.03; the national new - chick index is 76.07 (monthly, 2015 = 100), a decrease of 30.71; the average price of laying - hen compound feed is 2.7 yuan/kg, a decrease of 0.02; the egg - laying hen farming profit is - 0.16 yuan/hen, a decrease of 0.1; the average price of culled hens in the main production areas is 11.76 yuan/kg, an increase of 0.48; the national culled - hen age is 501 days, a decrease of 5. [2] Industry Situation - The average wholesale price of 28 key - monitored vegetables is 20.45 yuan/kg, a decrease of 0.22; the average wholesale price of pork is 4.58 yuan/kg, an increase of 0.01; the average wholesale price of white - striped chickens is 17.51 yuan/kg, an increase of 0.11; the weekly inventory in the circulation link is 1.11 days, an increase of 0.07; the weekly inventory in the production link is 1.01 days, an increase of 0.1; the monthly export volume of fresh eggs is 12792.51 tons, a decrease of 110.81. [2] Downstream Situation - The weekly egg consumption in the sales areas is 7897 tons, a decrease of 135 tons. [2] Industry News - Today, the average price of eggs in Shandong's main production area is 5.65 yuan/kg, unchanged from yesterday; in Hebei, it is 5.52 yuan/kg, unchanged from yesterday; in Guangdong, it is 6.60 yuan/kg, unchanged from yesterday; in Beijing, it is 6.08 yuan/kg, unchanged from yesterday. [2] Key Focus - There is no news today. [2]

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The current egg supply is abundant due to high laying - hen inventory, new - laying pressure from previously replenished hens, and continuous出库 of cold - storage eggs. Terminal demand is weak because of high - temperature weather increasing egg consumption substitutes. Spot market prices have been lower than expected, rising from a low level and then falling again recently. However, with school opening preparations and Mid - Autumn Festival purchases by food factories, demand is expected to pick up, potentially driving up egg prices. The near - month futures contracts have rebounded after some short - term profit - taking [2] Summary by Directory Futures Market - The futures closing price of the active egg contract is 3378 yuan/500 kilograms, up 48 yuan; the net long position of the top 20 futures holders is - 32005 hands; the egg futures monthly spread (9 - 1) is - 246 yuan/500 kilograms, up 54 yuan; the futures holding volume of the active contract is 208515 hands, down 19320 hands; the registered warehouse receipt volume is 13 hands, up 5 hands [2] 现货市场 - The egg spot price is 2.89 yuan/jin, down 0.07 yuan; the basis (spot - futures) is - 490 yuan/500 kilograms, down 116 yuan [2] Upstream Situation - The national laying - hen inventory index is 111.91 (2015 = 100), up 1.02; the national culled laying - hen index is 104.09 (2015 = 100), down 4.59; the average price of layer chicks in the main production areas is 3.85 yuan/chick, down 0.03 yuan; the national new - chick index is 76.07 (2015 = 100), down 30.71; the average price of layer compound feed is 2.7 yuan/kg, down 0.02 yuan; the layer farming profit is - 0.16 yuan/hen, down 0.1 yuan; the average price of culled chickens in the main production areas is 11.76 yuan/kg, up 0.48 yuan; the national culling age of laying hens is 501 days, down 5 days [2] Industry Situation - The average wholesale price of pork is 20.67 yuan/kg, up 0.34 yuan; the average wholesale price of 28 key - monitored vegetables is 4.57 yuan/kg, up 0.04 yuan; the average wholesale price of dressed chickens is 17.4 yuan/kg, down 0.09 yuan; the weekly inventory in the circulation link is 1.11 days, up 0.07 days; the weekly inventory in the production link is 1.01 days, up 0.1 days; the monthly export volume of fresh eggs is 12792.51 tons, down 110.81 tons [2] Downstream Situation - The weekly egg consumption in the sales areas is 7897 tons, down 135 tons [2] Industry News - Today, the average egg price in Shandong's main production area is 5.65 yuan/kg, down 0.21 yuan from yesterday; in Hebei, it is 5.52 yuan/kg, down 0.09 yuan; in Guangdong, it is 6.60 yuan/kg, down 0.20 yuan; in Beijing, it is 6.08 yuan/kg, unchanged from yesterday [2]

Report Industry Investment Rating - No relevant content provided Core Viewpoints - Currently, the egg supply is relatively sufficient due to a high inventory of laying hens and the pressure of newly - opened laying hens from previous replenishments. However, the process of old hen culling has accelerated after prices reached a relatively low level, reducing inventory expectations. Nationwide high - temperature weather has led to a decline in the egg - laying rate in some areas, alleviating short - term supply pressure. Terminal demand is gradually recovering, releasing farmers' expectation of price increases and promoting a low - level rebound of egg prices. The downward trend of the futures market has slowed down, and it is advisable to try to go long on far - month contracts with a light position [2] Summary by Directory Futures Market - The closing price of the active egg futures contract is 3,636 yuan per 500 kilograms, down 1 yuan; the net long position of the top 20 futures holders is - 32,578 lots, up 82 lots; the monthly spread (9 - 1) of egg futures is - 31 yuan per 500 kilograms, down 28 yuan; the trading volume of the active egg futures contract is 239,016 lots, down 8,812 lots; the registered warehouse receipt volume is 0 lots [2] 现货市场 - The spot price of eggs is 3.39 yuan per catty, up 0.02 yuan; the basis (spot - futures) is - 249 yuan per 500 kilograms, up 19 yuan [2] Upstream Situation - The national laying hen inventory index is 111.91 (with 2015 = 100), up 1.02; the national culled laying hen index is 104.09 (with 2015 = 100), down 4.59; the average price of layer chicks in the main production areas is 3.88 yuan per chick, down 0.02 yuan; the national new - chick index is 76.07 (with 2015 = 100), down 30.71; the average price of layer compound feed is 2.72 yuan per kilogram, unchanged; the breeding profit of laying hens is - 0.47 yuan per hen, up 0.22 yuan; the average price of culled chickens in the main production areas is 9.6 yuan per kilogram, up 0.4 yuan; the average age of culled chickens nationwide is 501 days, down 5 days [2] Industry Situation - The average wholesale price of pork is 20.62 yuan per kilogram, up 0.05 yuan; the average wholesale price of 28 key - monitored vegetables is 4.36 yuan per kilogram, down 0.03 yuan; the average wholesale price of dressed chickens is 17.2 yuan per kilogram, down 0.27 yuan; the weekly inventory in the circulation link is 1.04 days, down 0.13 days; the weekly inventory in the production link is 0.95 days, down 0.1 days; the monthly export volume of fresh eggs is 12,792.51 tons, down 110.81 tons [2] Downstream Situation - The weekly consumption of eggs in the sales areas is 7,886 tons, up 289 tons [2] Industry News - The average price of eggs in Shandong, Hebei, Guangdong, and Beijing in the main production areas remained unchanged from the previous day. The current inventory of laying hens is high, and the pressure of newly - opened laying hens is large, resulting in sufficient egg supply. However, after the price reached a relatively low level, the culling of old hens accelerated, and the high - temperature weather in many places led to a decline in the egg - laying rate, alleviating short - term supply pressure [2] Key Points of Attention - No news today [2]

Report Summary 1) Report Industry Investment Rating No information provided in the given content. 2) Core View of the Report The egg price has been at a relatively low level compared to the same period, and the breeding end has been in a state of continuous loss. However, after the price reaches a relatively low level, the process of old - hen culling has accelerated, reducing the inventory expectation. The egg - laying rate of laying hens in some areas has declined due to high - temperature weather, alleviating the short - term market supply pressure. Coupled with the gradual recovery of terminal demand, the egg price has rebounded. The decline of the futures market has also slowed down, and it is recommended to try to go long on the far - month contracts with a light position [2]. 3) Summary by Relevant Catalogs Futures Market - The closing price of the active egg futures contract is 3461 yuan/500 kilograms, with a week - on - week increase of 19; the net long position of the top 20 futures holders is - 27512 hands, with a week - on - week increase of 1339 [2]. - The monthly spread of egg futures (9 - 1) is - 10 yuan/500 kilograms, with a week - on - week increase of 22; the trading volume of the active futures contract is 99503 hands, with a week - on - week decrease of 11564 [2]. - The registered warehouse receipt volume of eggs is 24 hands, with no week - on - week change [2]. Spot Market - The spot price of eggs is 2.78 yuan/jin, with a week - on - week increase of 0.19; the basis (spot - futures) is - 676 yuan/500 kilograms, with a week - on - week increase of 170 [2]. Upstream Situation - The national laying - hen inventory index is 110.89 (2015 = 100), with a month - on - month decrease of 1.46; the national culled laying - hen index is 108.68 (2015 = 100), with a month - on - month increase of 11.92 [2]. - The average price of laying - hen chicks in the main production areas is 3.9 yuan/chick, with no week - on - week change; the national new - chick index is 106.78 (2015 = 100), with a month - on - month decrease of 31.9 [2]. - The average price of laying - hen compound feed is 2.72 yuan/kg, with no week - on - week change; the breeding profit of laying hens is - 0.69 yuan/hen, with a week - on - week decrease of 0.11 [2]. - The average price of culled hens in the main production areas is 9.2 yuan/kg, with a week - on - week decrease of 0.2; the average age of culled hens in the country is 506 days, with a month - on - month decrease of 4 [2]. Industry Situation - The average wholesale price of pork is 20.6 yuan/kg; the average wholesale price of 28 key - monitored vegetables is 4.41 yuan/kg, with a week - on - week decrease of 0.01 [2]. - The average wholesale price of white - striped chickens is 17.21 yuan/kg; the weekly inventory in the circulation link is 1.17 days, with a week - on - week decrease of 0.1 [2]. - The weekly inventory in the production link is 1.05 days, with a week - on - week decrease of 0.09; the monthly export volume of fresh eggs is 12792.51 tons, with a month - on - month decrease of 110.81 [2]. Downstream Situation The weekly consumption of eggs in the sales areas is 7606 tons, with a week - on - week decrease of 331 [2]. Industry News - The average price of eggs in Shandong, the main production area, is 5.52 yuan/kg, with an increase of 0.49 compared to yesterday; the average price of eggs in Hebei is 5.19 yuan/kg, with an increase of 0.60 compared to yesterday [2]. - The average price of eggs in Guangdong is 6.40 yuan/kg, with an increase of 0.60 compared to yesterday; the average price of eggs in Beijing is 5.60 yuan/kg, with an increase of 0.40 compared to yesterday [2].

Report Industry Investment Rating - No information provided Core View of the Report - Eggs have entered the seasonal demand off - season, with high laying - hen inventory and large pressure from newly - laid eggs of previously replenished hens, resulting in sufficient egg supply. Affected by the rainy season, high - temperature and high - humidity climate increases egg storage costs, making downstream dealers cautious in purchasing. Egg prices are continuously at a relatively low level compared to the same period, and the breeding side is in a continuous loss state. However, after the price reaches a relatively low level, the process of old - hen elimination accelerates, reducing the inventory expectation. The near - month futures price drops again due to the decline of the spot price, while the far - month contract is obviously resistant to decline, and it is advisable to try to go long on the far - month contract with a light position [2] Summary by Relevant Catalogs Futures Market - The futures closing price of the active egg contract is 3449 yuan/500 kilograms, down 133 yuan; the net long position of the top 20 futures holders is - 30493 hands, up 1462 hands; the egg futures monthly spread (9 - 1) is - 57 yuan/500 kilograms, down 108 yuan; the futures holding volume of the active contract is 181589 hands, up 933 hands; the registered warehouse receipt volume is 153 hands, up 3 hands [2] 现货市场 - The egg spot price is 2.62 yuan/jin, down 0.06 yuan; the basis (spot - futures) is - 831 yuan/500 kilograms, up 77 yuan [2] Upstream Situation - The national laying - hen inventory index is 110.89 (2015 = 100), down 1.46; the national eliminated laying - hen index is 108.68 (2015 = 100), up 11.92; the average price of egg - chicken chicks in the main production areas is 3.9 yuan/feather, down 0.1 yuan; the national new - chick index is 106.78 (2015 = 100), down 31.9; the average price of egg - chicken compound feed is 2.72 yuan/kilogram, down 0.02 yuan; the egg - chicken breeding profit is - 0.58 yuan/head, down 0.17 yuan; the average price of eliminated chickens in the main production areas is 9.4 yuan/kilogram, up 0.16 yuan; the national eliminated - chicken age is 506 days, down 4 days [2] Industry Situation - The average wholesale price of pork is 20.66 yuan/kilogram, up 0.08 yuan; the average wholesale price of 28 key - monitored vegetables is 4.36 yuan/kilogram, up 0.02 yuan; the average wholesale price of dressed chickens is 17.14 yuan/kilogram, up 0.02 yuan; the weekly inventory in the circulation link is 1.22 days, up 0.18 days; the weekly inventory in the production link is 1.12 days, up 0.2 days; the monthly export volume of fresh eggs is 12792.51 tons, down 110.81 tons [2] Downstream Situation - The weekly consumption of eggs in the sales area is 7937 tons, up 410 tons [2] Industry News - The average price of eggs in Shandong, the main production area, is 5.04 yuan/kilogram, down 0.16 yuan from yesterday; in Hebei, it is 4.90 yuan/kilogram, down 0.09 yuan; in Guangdong, it is 6.00 yuan/kilogram, down 0.20 yuan; in Beijing, it is 5.30 yuan/kilogram, down 0.20 yuan [2]

Report Summary 1) Report Industry Investment Rating - The report suggests a light - position trial for long positions as the futures price has shown a tendency to stop falling and recover after reaching the low - valuation area [2] 2) Core View of the Report - After the festival, the egg market enters the seasonal demand off - season. With a high egg - laying hen inventory and the pressure of newly - laid eggs from previously replenished hens, egg supply is sufficient. The storage cost increases due to the rainy season, leading to cautious purchasing by downstream dealers. Egg prices are at a relatively low level compared to the same period, and the breeding end is in a continuous loss state. However, the process of culling old hens has accelerated after the price reached a relatively low level, reducing the inventory expectation [2] 3) Summary by Relevant Catalogs Futures Market - The futures closing price of the active egg contract is 3,550 yuan per 500 kilograms, down 11 yuan; the net long position of the top 20 futures holders is - 20,481 lots, down 88 lots; the egg futures monthly spread (9 - 1) is 19 yuan per 500 kilograms, down 11 yuan; the futures holding volume of the active contract is 234,921 lots, down 2,313 lots; the registered warehouse receipt volume is 0 lots [2] Spot Market - The egg spot price is 2.84 yuan per catty, down 0.01 yuan; the basis (spot - futures) is - 709 yuan per 500 kilograms, down 2 yuan [2] Upstream Situation - The national egg - laying hen inventory index is 110.89 (with 2015 = 100), down 1.46; the national culled egg - laying hen index is 108.68 (with 2015 = 100), up 11.92; the average price of egg - laying chicken chicks in the main production areas is 4 yuan per chick, down 0.1 yuan; the national new - chick index is 106.78 (with 2015 = 100), down 31.9; the average price of egg - laying chicken compound feed is 2.74 yuan per kilogram, unchanged; the breeding profit of egg - laying chickens is - 0.47 yuan per chicken, up 0.08 yuan; the average price of culled chickens in the main production areas is 8.88 yuan per kilogram, down 0.24 yuan; the national average age of culled chickens is 506 days, down 4 days [2] Industry Situation - The average wholesale price of pork is 20.31 yuan per kilogram, up 0.09 yuan; the average wholesale price of 28 key - monitored vegetables is 4.38 yuan per kilogram, up 0.03 yuan; the average wholesale price of dressed chickens is 17.42 yuan per kilogram, up 0.43 yuan; the weekly inventory in the circulation link is 1.04 days, down 0.01 days; the weekly inventory in the production link is 0.92 days, down 0.11 days; the monthly export volume of fresh eggs is 12,792.51 tons, down 110.81 tons [2] Downstream Situation - The weekly egg consumption in the sales area is 7,527 tons, down 667 tons [2] Industry News - The average egg price in Shandong, Hebei, Guangdong, and Beijing in the main production areas remained unchanged from the previous day. After the festival, the egg market enters the seasonal demand off - season, with sufficient supply, increased storage costs, and cautious purchasing by downstream dealers [2] Viewpoint Summary - Egg supply is sufficient, prices are at a relatively low level, and the breeding end is in a loss state. However, the culling of old hens has accelerated, and the futures price has shown a tendency to stop falling and recover, suggesting a light - position trial for long positions [2]