Group 1: General Information - Reported industry: Eggs [1] - Report date: June 9, 2025 [2] - Research team: Agricultural products research team, including researchers Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, and Liu Youran [4] Group 2: Market Review and Operation Suggestions Market Review | Contract | Previous Settlement Price | Opening Price | High Price | Low Price | Closing Price | Change | Change Rate | Volume | Open Interest | Open Interest Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Egg 2507 | 2877 | 2875 | 2895 | 2856 | 2859 | -18 | -0.63% | 148312 | 124880 | 7559 | | Egg 2508 | 3571 | 3577 | 3587 | 3546 | 3553 | -18 | -0.50% | 75025 | 187355 | 5832 | | Egg 2509 | 3721 | 3721 | 3728 | 3706 | 3709 | -12 | -0.32% | 22391 | 104612 | 3437 | [7] Core View The national egg price is weak today. The average price in the main production areas is 2.79 yuan/jin, down 0.08 yuan/jin from yesterday; the average price in the main sales areas is 3.03 yuan/jin, down 0.02 yuan/jin from yesterday. The 08 contract fell 0.50%. The spot price has remained weak and stable this week. After the Dragon Boat Festival, the sales situation has improved to some extent compared with the previous period, but on the one hand, the supply of small-sized eggs is still large, and on the other hand, the plum rain season is approaching, so all parties are still cautious in purchasing. From the perspective of the spot market, it is expected to remain weak and stable for some time. According to the 2025 weather forecast and traditional calendar calculations, it is expected to enter the plum rain season on June 6 and last until July 13 or 18, with a relatively long duration and more precipitation. Under this expectation, it is difficult for the spot price to rebound in the short term, and the medium- and short-term futures should be treated bearishly or sell out-of-the-money call options. Continuously monitor the situation of culled hens in the future. The culling of hens has accelerated significantly in the past two weeks, but more continuous over-culling is needed to reduce the increase in supply. If the spot price remains stable in mid-to-late June, short sellers should leave the market in time and not be greedy. Under the bearish fundamental situation, there is a possibility of slow decline and sharp rise. If the spot price continues to bottom out during the plum rain season in June, the previous short positions can be held cautiously [8] Group 3: Industry News - The inventory of laying hens in production is on the rise. As of the end of May, the monthly inventory of laying hens in production nationwide was about 1.334 billion, compared with 1.329 billion at the end of April and 1.318 billion at the end of March, with a month-on-month increase of 0.4%, showing a certain degree of growth for five consecutive months. Compared with 1.244 billion in the same period last year, the year-on-year increase was 7.2% [9] - In April, the monthly output of layer chicks from sample enterprises was about 46.99 million, an increase from 46.33 million in March. Compared with 45.82 million in the same period in 2024, it also increased, ranking as the third-highest monthly replenishment volume in April in the past eight years [9] - In the three weeks up to May 30, the national culling volume of hens was 21.02 million, 19.53 million, and 18.56 million respectively. The culling volume gradually recovered after May, with a month-on-month increase for three consecutive weeks, and the absolute value was slightly higher than the levels of the previous three years. As of May 29, the average age of culled hens was 521 days, 11 days earlier than the previous week and 15 days earlier than the previous month [9] Group 4: Data Overview - Figures include China's monthly inventory of laying hens in production (in billions), egg farming profit (yuan per hen), average price of eggs in the main production areas (yuan per jin), seasonal trend of Egg 06 (yuan per 500 kg), basis of Egg 06 contract (yuan per 500 kg), and price difference between Egg 08 and 09 (yuan per 500 kg) [10][16][20]