鸡蛋产业日报 2026-02-09 研究员: 许方莉 期货从业资格号F3073708 期货投资咨询从业证书号Z0017638 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货收盘价(活跃合约):鸡蛋(日,元/500千 | 2909 | 5 期货前20名持仓:净买单量:鸡蛋(日,手) | -9275 | 1839 | | | 克) 鸡蛋期货月间价差(5-9):(日,元/500千克) | -483 | -28 期货持仓量(活跃合约):鸡蛋(日,手) | 139465 | - ...

免责声明 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货收盘价(活跃合约):鸡蛋(日,元/500千 | 2945 | -8 期货前20名持仓:净买单量:鸡蛋(日,手) | -16298 | -7005 | | 克) | 鸡蛋期货月间价差(5-9):(日,元/500千克) | -467 | -21 期货持仓量(活跃合约):鸡蛋(日,手) | 179590 | -61 | | | 注册仓单量:鸡蛋(日,手) | 0 | 0 | | | | 现货市场 | 鸡蛋现货价格(日,元/斤) | 3.66 | -0.09 基差(现货-期货)(日,元/500千克) | 711 | -83 | | 上游情况 | 产蛋鸡存栏指数:全国(月,2015=100) | 109.28 | -2.75 淘汰产蛋鸡指数:全国(月,2015=100) | 124.98 | 23.8 | | | 主产区平均价:蛋鸡苗(周,元/羽) | 3.2 | 0.1 新增雏鸡指数:全国(月,2015=100) | 71.99 ...

现货价格持续上涨提振，盘面也同步偏强震荡，但高存栏压力也继续牵制盘面走势，增添市场波动，短多 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货收盘价(活跃合约):鸡蛋(日,元/500千 | 3048 | 1 期货前20名持仓:净买单量:鸡蛋(日,手) | 7248 | -5631 | | 克) | 鸡蛋期货月间价差(5-9):(日,元/500千克) | -400 | -25 期货持仓量(活跃合约):鸡蛋(日,手) | 253789 | -7933 | | | 注册仓单量:鸡蛋(日,手) | 27 | 20 | | | | 现货市场 | 鸡蛋现货价格(日,元/斤) | 4.06 | 0.06 基差(现货-期货)(日,元/500千克) | 1016 | 59 | | 上游情况 | 产蛋鸡存栏指数:全国(月,2015=100) | 109.28 | -2.75 淘汰产蛋鸡指数:全国(月,2015=100) | 124.98 | 23.8 | | | 主产区平均价:蛋鸡苗(周,元/羽) ...

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货收盘价(活跃合约):鸡蛋(日,元/500千 | 3023 | -49 期货前20名持仓:净买单量:鸡蛋(日,手) | 3167 | 1380 | | | 克) 鸡蛋期货月间价差(5-9):(日,元/500千克) | -432 | -42 期货持仓量(活跃合约):鸡蛋(日,手) | 265011 | 1813 | | | 注册仓单量:鸡蛋(日,手) | 10 | 10 | | | | 现货市场 | 鸡蛋现货价格(日,元/斤) | 3.75 | 0.1 基差(现货-期货)(日,元/500千克) | 723 | 151 | | 上游情况 | 产蛋鸡存栏指数:全国(月,2015=100) | 112.03 | -2.21 淘汰产蛋鸡指数:全国(月,2015=100) | 101.18 | -13.26 | | | 主产区平均价:蛋鸡苗(周,元/羽) | 3 | 0.1 新增雏鸡指数:全国(月,2015=100) | 93.62 | 26.5 ...

Report Industry Investment Rating - Not specified in the provided content Core Viewpoints - The current stage of the breeding side is still in a loss state, and the market's enthusiasm for replenishment is still lower than the same period last year, which is beneficial for long - term prices [2] - However, the current inventory of laying hens in production is still at a high level, and the enthusiasm for culling old hens has slightly slowed down recently. High production capacity still restricts the performance of near - month market prices [2] - Overall, the market is in a game between weak reality and strong expectations. In the short term, near - month contracts may be in a wide - range low - level oscillation state. In the long term, with the expectation of declining production capacity, the performance of far - month contracts is expected to be better than that of near - month contracts. One can lightly test long positions in far - month contracts [2] Summary by Relevant Categories 1. Futures Market - The closing price of the active egg futures contract is 3000 yuan per 500 kilograms, with a week - on - week increase of 8 [2] - The net long position of the top 20 futures holders of eggs is - 32401 hands, with a week - on - week increase of 12996 hands [2] - The monthly spread (May - September) of egg futures is - 425 yuan per 500 kilograms, with a week - on - week increase of 34 [2] - The trading volume of the active egg futures contract is 231586 hands, with a week - on - week increase of 12061 hands [2] - The registered warehouse receipt volume of eggs is 23 hands, with no week - on - week change [2] 2. Spot Market - The spot price of eggs is 3.18 yuan per catty, with a week - on - week increase of 0.07 yuan [2] - The basis (spot - futures) is 179 yuan per 500 kilograms, with a week - on - week increase of 66 [2] 3. Upstream Situation - The national laying hen inventory index is 112.03 (with 2015 = 100), with a month - on - month decrease of 2.21 [2] - The national culling laying hen index is 101.18 (with 2015 = 100), with a month - on - month decrease of 13.26 [2] - The average price of laying hen chicks in the main production areas is 2.8 yuan per chick, with no weekly change [2] - The national new - born chick index is 93.62 (with 2015 = 100), with a month - on - month increase of 26.53 [2] - The average price of laying hen compound feed is 2.8 yuan per kilogram, with no weekly change [2] - The breeding profit of laying hens is - 0.39 yuan per hen, with a weekly increase of 0.08 [2] - The average price of culled hens in the main production areas is 7.9 yuan per kilogram, with a weekly increase of 0.16 [2] - The national average age of culled hens is 500 days, with a month - on - month decrease of 10 days [2] 4. Industry Situation - The average wholesale price of pork is 17.99 yuan per kilogram, with a daily increase of 0.03 [2] - The average wholesale price of 28 key - monitored vegetables is 5.61 yuan per kilogram, with a daily decrease of 0.04 [2] - The average wholesale price of white - striped chickens is 17.72 yuan per kilogram, with a daily decrease of 0.08 [2] - The weekly inventory in the circulation link is 1.21 days, with a weekly increase of 0.09 [2] - The weekly inventory in the production link is 1.09 days, with a weekly increase of 0.09 [2] - The monthly export volume of fresh eggs is 13394.53 tons, with an increase of 178.74 tons [2] 5. Downstream Situation - The weekly consumption of eggs in the sales areas is 7147 tons, with an increase of 124 tons [2] 6. Industry News - Today, the average price of eggs in Shandong, the main production area, is 6.30 yuan per kilogram, up 0.18 from yesterday; in Hebei, it is 5.88 yuan per kilogram, up 0.22 from yesterday; in Guangdong, it is 6.87 yuan per kilogram, up 0.14 from yesterday; in Beijing, it is 6.30 yuan per kilogram, up 0.14 from yesterday [2] - The continuous losses of the breeding side have led to a decline in the enthusiasm for replenishment and an increase in the number of old hens culled. The inventory of laying hens has slightly decreased, and the market atmosphere has slightly improved [2]

Report Information - Report Title: Egg Industry Daily Report 2025-12-24 [1] - Analyst: Xu Fangli [2] - Futures Practitioner Qualification Number: F3073708 [2] - Futures Investment Consulting Practitioner Certificate Number: Z0017638 [2] Investment Rating - No investment rating is provided in the report. Core View - The market is in a game between weak reality and strong expectations. The short - term near - month contracts may be in a wide - range oscillation state, and it is advisable to lightly test long positions in the far - month contracts [2]. Summary by Directory Futures Market - The futures closing price of the active egg contract is 2,947 yuan per 500 kilograms, with a环比 increase of 71 [2]. - The net long position of the top 20 futures holders of eggs is - 33,420 lots, with a环比 increase of 11,292 [2]. - The egg futures monthly spread (5 - 9) is - 528 yuan per 500 kilograms, with a环比 decrease of 23 [2]. - The futures open interest of the active egg contract is 169,411 lots, with a环比 decrease of 20,946 [2]. - The registered warehouse receipt volume of eggs is 0 lots, with no环比 change [2]. Spot Market - The spot price of eggs is 2.98 yuan per jin, with a环比 decrease of 0.07 [2]. - The basis (spot - futures) is 31 yuan per 500 kilograms, with a环比 decrease of 138 [2]. Upstream Situation - The laying hen inventory index nationwide is 112.03 (2015 = 100), with a环比 decrease of 2.21 [2]. - The culled laying hen index nationwide is 101.18 (2015 = 100), with a环比 decrease of 13.26 [2]. - The average price of layer chicks in the main producing areas is 2.8 yuan per chick, with no环比 change [2]. - The new chick index nationwide is 93.62 (2015 = 100), with a环比 increase of 26.53 [2]. - The average price of layer compound feed is 2.8 yuan per kilogram, with no环比 change [2]. - The layer farming profit is - 0.36 yuan per chicken, with no环比 change [2]. - The average price of culled chickens in the main producing areas is 7.9 yuan per kilogram, with a环比 decrease of 0.04 [2]. - The average age of culled chickens nationwide is 500 days, with a环比 decrease of 10 [2]. Industry Situation - The average wholesale price of pork is 17.35 yuan per kilogram, with a环比 decrease of 0.18 [2]. - The average wholesale price of 28 key monitored vegetables is 5.81 yuan per kilogram, with a环比 decrease of 0.02 [2]. - The average wholesale price of white - striped chickens is 17.85 yuan per kilogram, with a环比 decrease of 0.11 [2]. - The weekly inventory in the circulation link is 1.12 days, with a环比 increase of 0.02 [2]. - The weekly inventory in the production link is 1 day, with a环比 decrease of 0.01 [2]. - The monthly export volume of fresh eggs is 13,394.53 tons, with a环比 increase of 178.74 [2]. Downstream Situation - The weekly consumption of eggs in the sales areas is 7,023 tons, with a环比 decrease of 104 [2]. Industry News - The average price of eggs in Shandong, the main producing area, is 5.80 yuan per kilogram, a decrease of 0.19 from yesterday; in Hebei, it is 5.66 yuan per kilogram, a decrease of 0.12; in Guangdong, it is 6.53 yuan per kilogram, unchanged from yesterday; in Beijing, it is 6.16 yuan per kilogram, a decrease of 0.14 [2]. - The continuous losses of the farming end have led to a decline in the enthusiasm for replenishment and an increase in the number of old chicken culls. The laying hen inventory has slightly declined, and the market atmosphere has slightly improved [2]. Key Points of View - The spot price remains low, and the farming end is still in a loss state. The market's enthusiasm for replenishment is poor, which is beneficial to the long - term price. However, the current inventory of laying hens in production is still at a high level, the culling of old chickens has slowed down slightly, and the high production capacity still restricts the performance of the near - month market price [2].

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The low egg price and the farmers' price - holding sentiment, along with favorable storage and transportation conditions due to temperature drop, have accelerated the sales in low - price areas, supporting the rebound of the spot price. The near - month futures contracts have also strengthened under the boost of the rising spot price. However, the high in - production laying hen inventory and the lack of over - culling of old hens are the main concerns in the market, which may limit the upside space. Although the futures price has risen recently, investors should be cautious about chasing the rally due to the high - capacity pressure [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The futures closing price of the active egg contract is 3,165 yuan per 500 kilograms, up 66 yuan; the net long position of the top 20 futures holders is - 14,280 lots, up 2,589 lots; the egg futures spread between January and May contracts is - 109 yuan per 500 kilograms, up 31 yuan; the futures open interest of the active contract is 217,139 lots, down 9,677 lots; the registered warehouse receipts are 38 lots, unchanged [2] 3.2现货市场 - The spot price of eggs is 2.92 yuan per catty, down 0.05 yuan; the basis (spot - futures) is - 244 yuan per 500 kilograms, down 120 yuan [2] 3.3 Upstream Situation - The national laying hen inventory index is 115.26 (with 2015 = 100), up 0.86; the national culled laying hen index is 124.63 (with 2015 = 100), up 31.02; the average price of layer chicks in the main production areas is 2.65 yuan per chick, up 0.05 yuan; the national new - born chick index is 76.65 (with 2015 = 100), up 3.3; the average price of layer compound feed is 2.76 yuan per kilogram, up 0.01 yuan; the layer farming profit is - 0.45 yuan per chicken, up 0.01 yuan; the average price of culled chickens in the main production areas is 8.58 yuan per kilogram, down 0.06 yuan; the national average age of culled chickens is 507 days, down 3 days [2] 3.4 Industry Situation - The average wholesale price of pork is 18.03 yuan per kilogram; the average wholesale price of 28 key - monitored vegetables is 5.67 yuan per kilogram, up 0.01 yuan; the average wholesale price of dressed chickens is 17.41 yuan per kilogram, down 0.29 yuan; the weekly inventory in the circulation link is 1.1 days, unchanged; the weekly inventory in the production link is 1.04 days, down 0.01 days; the monthly export volume of fresh eggs is 13,215.79 tons, up 94.76 tons [2] 3.5 Downstream Situation - The weekly consumption of eggs in the sales areas is 7,498 tons, up 118 tons [2] 3.6 Industry News - The average egg price in Shandong's main production area is 5.60 yuan per kilogram, down 0.19 yuan from yesterday; in Hebei, it is 5.69 yuan per kilogram, down 0.09 yuan from yesterday; in Guangdong and Beijing, it remains unchanged at 6.73 yuan per kilogram and 6.30 yuan per kilogram respectively. The low egg price and the farmers' price - holding sentiment, along with favorable storage and transportation conditions due to temperature drop, have accelerated the sales in low - price areas [2]

Report Highlights 1) Investment Rating No investment rating for the industry is provided in the report. 2) Core View The egg market currently faces a situation of high production capacity, with a large number of laying hens in stock and no excessive culling of old hens. After the festival, consumer demand has seasonally declined, and the loose supply - demand situation is expected to continue, which suppresses the near - month contracts. The post - festival decline in spot prices also affects the performance of the futures market. However, continuous losses have reduced the enthusiasm for restocking, which is beneficial to long - term prices. In general, due to the high production capacity pressure and the decline in spot prices, a short - term strategy of selling high for near - month contracts is recommended. The far - month contracts may perform better as they are supported by the logic of production capacity reduction [2]. 3) Summary by Directory a. Futures Market - The closing price of the active egg futures contract is 2770 yuan/500 kilograms, down 35 yuan; the net long position of the top 20 futures holders is - 19763 lots, an increase of 4157 lots - The egg futures spread between January and May contracts is - 181 yuan/500 kilograms, down 57 yuan; the trading volume of the active futures contract is 161059 lots, a decrease of 10183 lots - The registered warehouse receipt volume is 15 lots, a decrease of 15 lots [2] b. Spot Market - The spot price of eggs is 2.93 yuan/jin, down 0.07 yuan; the basis (spot - futures) is 164 yuan/500 kilograms, down 39 yuan [2] c. 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 egg - laying chicken chicks in the main production areas is 2.6 yuan/chick, unchanged; the national new - born chick index is 73.35 (with 2015 = 100), a decrease of 5.05 - The average price of egg - laying chicken feed is 2.75 yuan/kg, down 0.01 yuan; the breeding profit per egg - laying chicken is - 0.46 yuan, down 0.06 yuan - The average price of culled chickens in the main production areas is 8.64 yuan/kg, down 0.28 yuan; the average age of culled chickens nationwide is 510 days, a decrease of 2 days [2] d. Industry Situation - The average wholesale price of pork is 17.72 yuan/kg, down 0.31 yuan; the average wholesale price of 28 key - monitored vegetables is 5.09 yuan/kg, an increase of 0.02 yuan - The average wholesale price of white - striped chickens is 17.57 yuan/kg, down 0.12 yuan; the weekly inventory in the circulation link is 1.1 days, a decrease of 0.24 days - The weekly inventory in the production link is 1.05 days, a decrease of 0.45 days; the monthly export volume of fresh eggs is 13121.03 tons, an increase of 264.92 tons [2] e. Downstream Situation The weekly consumption of eggs in the sales areas is 7179 tons, a decrease of 442 tons [2] f. Industry News The average price of eggs in Shandong's main production area is 5.79 yuan/kg, down 0.18 yuan from the previous day; in Hebei, it is 5.45 yuan/kg, down 0.21 yuan; in Guangdong, it is 6.40 yuan/kg, down 0.20 yuan; in Beijing, it is 6.16 yuan/kg, down 0.20 yuan [2]

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - High production capacity pressure persists, the driving force for pushing up the futures price is insufficient, and the futures price has dropped again. In the short term, the strategy of selling high should be adopted [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the active contract of egg futures is 3016 yuan/500 kilograms, a decrease of 20 yuan; the net long position of the top 20 futures holders is -13270 lots, an increase of 7509 lots [2] - The monthly spread of egg futures (1 - 5) is -43 yuan/500 kilograms, a decrease of 10 yuan; the trading volume of the active contract of egg futures is 284006 lots, a decrease of 31270 lots [2] - The registered warehouse receipt volume of eggs is 26 lots, unchanged [2] 3.2 Spot Market - The spot price of eggs is 3.54 yuan/jin, a decrease of 0.08 yuan; the basis (spot - futures) is 527 yuan/500 kilograms, a decrease of 56 yuan [2] 3.3 Upstream Situation - The laying hen inventory index nationwide is 114.4 (with 2015 as 100), an increase of 1.22; the culled laying hen index nationwide is 93.61 (with 2015 as 100), a decrease of 5.59 [2] - The average price of laying hen chicks in the main producing areas is 2.6 yuan/chick, unchanged; the new chick index nationwide is 73.35 (with 2015 as 100), a decrease of 5.05 [2] - The average price of laying hen compound feed is 2.76 yuan/kg, unchanged; the breeding profit of laying hens is 0.11 yuan/hen, a decrease of 0.06 yuan [2] - The average price of culled hens in the main producing areas is 9.28 yuan/kg, a decrease of 0.06 yuan; the age of culled hens nationwide is 510 days, a decrease of 2 days [2] 3.4 Industry Situation - The average wholesale price of pork is 19.32 yuan/kg, an increase of 0.15 yuan; the average wholesale price of 28 key monitored vegetables is 5.01 yuan/kg, a decrease of 0.02 yuan [2] - The average wholesale price of dressed chickens is 17.24 yuan/kg, a decrease of 0.44 yuan; the weekly inventory in the circulation link is 0.99 days, a decrease of 0.04 days [2] - The weekly inventory in the production link is 0.91 days, a decrease of 0.02 days; the export volume of fresh eggs in the current month is 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 - The average price of eggs in Shandong, the main producing area, is 7.28 yuan/kg, unchanged from yesterday; the average price of eggs in Hebei is 6.61 yuan/kg, a decrease of 0.03 yuan from yesterday [2] - The average price of eggs in Guangdong is 7.67 yuan/kg, unchanged from yesterday; the average price of eggs in Beijing is 7.20 yuan/kg, unchanged from yesterday [2] - The current laying hen inventory is at a high level, the pressure of newly - opened laying hens from previous supplements is large, and the egg supply is relatively sufficient. The decrease in temperature has led to an increase in the laying rate of laying hens, further increasing the supply pressure [2] 3.7 Market Demand - During the peak stocking season before the Mid - Autumn Festival and National Day in the middle of the month, the purchasing volume of traders increased, the market demand showed signs of recovery, which pushed the egg price to rebound from the bottom and supported the futures market [2] - As the double festivals approach, the pre - festival stocking is coming to an end, the market turnover has slowed down, and the spot price has fallen again [2]

Report Summary 1. Report Industry Investment Rating - No investment rating is provided in the report [2] 2. Core View of the Report - Currently, the layer hen inventory is at a high level, with significant pressure from newly - laying hens due to previous restocking, resulting in sufficient egg supply. The decrease in temperature has led to an increase in the laying rate of hens, further intensifying the supply pressure. However, pre - holiday stocking before the Mid - Autumn Festival and National Day has increased the purchasing volume of traders, showing a certain degree of recovery in market demand, which has pushed egg prices to rebound from the bottom and supported the futures market. Overall, high production capacity pressure persists. 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 insufficient, and short - term trading is recommended in the near future [2] 3. Summary by Relevant Catalogs Futures Market - Futures closing price (active contract): Eggs (daily, yuan/500 kilograms) is 3056, with a decrease of 9; net long position of the top 20 futures holders: Eggs (daily, lots) is 7407, with a decrease of 2691; egg futures monthly spread (1 - 5): (daily, yuan/500 kilograms) is - 38, with a decrease of 5; futures open interest (active contract): Eggs (daily, lots) is 362521, with a decrease of 8563; registered warehouse receipt volume: Eggs (daily, lots) is 0, with no change [2] 现货市场 - Egg spot price (daily, yuan/jin) is 3.73, with no change; basis (spot - futures) (daily, yuan/500 kilograms) is 673, with an increase of 14 [2] Upstream Situation - Laying hen inventory index: National (monthly, 2015 = 100) is 114.4, with an increase of 1.22; culled laying hen index: National (monthly, 2015 = 100) is 93.61, with a decrease of 5.59; average price in main producing areas: Pullets (weekly, yuan/chick) is 2.6, with no change; new chick index: National (monthly, 2015 = 100) is 73.35, with a decrease of 5.05; average price: Layer feed (weekly, yuan/kilogram) is 2.76, with no change; layer farming profit (weekly, yuan/bird) is 0.17, with an increase of 0.19; average price in main producing areas: Culled hens (weekly, yuan/kilogram) is 9.34, with an increase of 0.12; culled hen age: National (monthly, days) is 510, with a decrease of 2 [2] Industry Situation - Average wholesale price: 28 key monitored vegetables (daily, yuan/kilogram) is 19.6, with an increase of 0.03; average wholesale price: Pork (daily, yuan/kilogram) is 5.08, with an increase of 0.05; average wholesale price: White - striped chickens (daily, yuan/kilogram) is 17.96, with an increase of 0.2; weekly inventory in the circulation link (weekly, days) is 0.99, with a decrease of 0.04; weekly inventory in the production link (weekly, days) is 0.91, with a decrease of 0.02; export volume: Fresh eggs: Monthly value (monthly, tons) is 13121.03, with an increase of 264.92 [2] Downstream Situation - Weekly egg consumption in the sales area (weekly, tons) is 7303, with a decrease of 149 [2] Industry News - Today, the average price of eggs in Shandong, the main producing area, is 7.32 yuan/kilogram, unchanged from yesterday; the average price of eggs in Hebei is 6.99 yuan/kilogram, unchanged from yesterday; the average price of eggs in Guangdong is 7.67 yuan/kilogram, an increase of 0.13 from yesterday; the average price of eggs in Beijing is 7.46 yuan/kilogram, unchanged from yesterday [2]