Report Summary 1) Industry Investment Rating - No information provided in the given content. 2) Core View - The report focuses on the egg market, stating that the negative impact of the plum - rain season has been released, and it is waiting for the confirmation from the culling of laying hens. The trend intensity is rated as 0, indicating a neutral view [1]. 3) Summary by Related Catalogs a. Fundamental Tracking - **Futures Data**: The closing price of egg 2507 is 2,833 yuan/500 kilograms with a daily increase of 0.25%, and the trading volume decreased by 62,198 and the open interest decreased by 10,284. The closing price of egg 2509 is 3,655 yuan/500 kilograms with a daily decrease of 0.49%, and the trading volume decreased by 22,386 while the open interest increased by 5,704 [1]. - **Spread Data**: The egg 7 - 8 spread is - 680 (previous day: - 678), and the egg 7 - 9 spread is - 822 (previous day: - 837) [1]. - **Spot Price Data**: The spot prices of eggs in Liaoning, Hebei, Shanxi, and Hubei are 2.70 yuan/jin, 2.56 yuan/jin, 2.80 yuan/jin, and 2.96 yuan/jin respectively. The spot prices of corn and soybean meal are 2,303 yuan/ton and 2,880 yuan/ton respectively. The price of live pigs in Henan is 14.08 yuan/kg [1]. b. Trend Intensity - The trend intensity is 0, with the range of values from - 2 (most bearish) to 2 (most bullish), indicating a neutral view on the market [1].