期。盘面来看，期价跌至低估值区域后，近来有止跌回暖倾向，可轻仓试多。 数据来源于第三方，观点仅供参考。市场有风险，投资需谨慎！ 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。 鸡蛋产业日报 2025-06-25 | 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 | 3561 | 10 期货前20名持仓:净买单量:鸡蛋(日,手) | -20393 | 2863 | | 克) | 鸡蛋期货月 ...

大宗商品研究所 农产品研发报告 :liuqiannan_qh@chinastock. com.cn 鸡蛋日报 第一部分鸡蛋日报 | 期货市场 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 今收 | | 昨收 | 涨跌 | JD跨月价差 | 今收 | 昨收 | 涨跌 | | JD01 | 3606 | 3589 | 17 | 01-05 | 209 | 193 | 16 | | JD05 | 3397 | 3396 | 1 | 05-09 | -233 | -266 | 33 | | JD09 | 3630 | 3662 | -32 | 09-01 | 24 | 73 | -49 | | 今收 | | 昨收 | 涨跌 | | 今收 | 昨收 | 涨跌 | | 01鸡蛋/玉米 | 1.57 | 1.57 | 0.01 | 01鸡蛋/豆粕 | 1.17 | 1.16 | 0.01 | | 05鸡蛋/玉米 | 1.47 | 1.46 | 0.00 | 05鸡蛋/豆粕 | 1.23 | 1.23 | 0.01 | | 09鸡蛋/玉 ...

瑞达期货研究院 「2025.06.20」 鸡蛋市场周报 现货低位小幅回升 期价震荡收高 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 联系电话：0595-86778969 关 注 我 们 获 取 更 多 资 讯 业 务 咨 询 添 加 客 服 目录 1、周度要点小结 2、期现市场 3、产业情况 「 周度要点小结」 总结及策略建议 Ø 策略建议：轻仓试多。 3 来源：瑞达期货研究院 Ø 鸡蛋： Ø 行情回顾：本周鸡蛋震荡收高，08合约收盘价为3618元/500千克，较前一周+62元/500千克。 Ø 行情展望：随着节后鸡蛋步入季节性需求淡季，且目前蛋鸡存栏量处于高位，前期补栏的蛋鸡新 开产压力较大，鸡蛋供应比较充足。同时，受湿热天气影响，鸡蛋存储成本增加，下游经销商采 购谨慎，蛋价持续处于同期偏低水平，养殖端也持续处于亏损状态。不过，价格来到相对低位后， 老鸡淘汰进程有所加快，降低存栏预期。盘面来看，期价跌至低估值区域后，近来有止跌回暖倾 向。 「 期现市场情况」 期价走势及前二十名持仓 图1、大商所鸡蛋主力合约期货价格走势 来源：大商所 wind 图2、大商所鸡蛋指 ...

16日，因涉嫌主导推高鸡蛋价格，韩国鸡蛋生产商行业组织韩国蛋鸡协会遭到该国反垄断机构的现场调 查。调查起因是该协会涉嫌强迫会员企业按其发布的指导价格销售鸡蛋，导致市场蛋价被推高。该协会 公布的单枚鸡蛋农场交货价格从3月至今上涨了约30%。目前的价格比去年同期高6%，比季节性平均水 平高4.2%。(央视新闻) ...

Core Viewpoint - The South Korean Fair Trade Commission is investigating the Korea Egg Producers Association for allegedly playing a dominant role in driving up egg prices in the country [1] Group 1: Investigation Details - The Fair Trade Commission dispatched investigators to the association's headquarters in North Chungcheong Province and its branches in Gyeonggi Province and South Chungcheong Province to determine if the association forced member companies to adhere to its published price guidelines, thereby influencing market egg prices [1] - The price of farm-delivered eggs has increased by approximately 30% since March, with current prices 6% higher than the same period last year and 4.2% above seasonal averages [1] Group 2: Legal Implications - If the investigation finds that the Korea Egg Producers Association engaged in coercive practices, it may violate South Korean laws related to fair trade, which prohibit unfair collective actions by business organizations [1] - A Fair Trade Commission official stated that if unfair competitive behavior is confirmed, the commission plans to take strict measures according to relevant laws [1] Group 3: Price Trends - Egg prices have been on the rise in recent months, with year-on-year increases of 10.2% and 12.2% in April and May, respectively, leading to higher retail prices [1] - According to a report from the Korea Rural Economic Institute, egg prices reached their highest level in four years in May, with the average retail price for a pack of 30 large eggs at 7,026 Korean won (approximately 37.1 RMB) [1]

正信期货研究院-农产品研究小组 观点小结 | 鸡蛋 | 短期观点 | 周度评级 | | --- | --- | --- | | 供应 | 本周样本养殖企业淘鸡价格持续下降， 淘鸡日龄持续下降，大小码价差小幅上升，鸡苗价格持 | 偏空 | | | 续下降。 | | | | 近十年统计结果显示，有6次梅雨季现货价格低点出现在7月上旬，3次出现在6月下旬，所以6-7 | | | | 月出现低点的概率较大。通常7-8月现货出现上涨，主要因为梅雨季淘鸡加速、高温天气导致产 | | | | 蛋率下降、中秋节前备货需求增加的影响。但目前淘鸡相对蛋价处于历史同期高位，7月20日入 | | | | 伏之前产蛋率也不会快速下滑，节前备货还未到启动的时候，所以季节性反弹还为时尚早。 | | | 需求 | 本周主销区销量小幅下降，主产区发货量基本持平，流通库存和生产环节库存小幅上升。 | 偏空 | | | 根据气象部门最新预测，今年南方梅雨季节时间长、降雨量大，鸡蛋质量面临较大挑战，或导致 | | | | 今年6月份需求低于往年同期。 | | | 利润 | 养殖利润持续走低，明显低于综合成本，处于近4年同期最低水平。 蛋鸡行业经过连 ...

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The egg market is currently in a situation where supply is relatively abundant due to high laying - hen inventory and new - laying hens coming into production. The demand is in a seasonal off - peak, and the hot and humid weather increases storage costs, leading to cautious purchasing by downstream dealers. Egg prices are at a relatively low level, and the breeding side is in a loss state. However, the supply - loose expectation has been reflected in the futures price, and if the spot price remains low, it may increase the enthusiasm for old - hen culling and reduce the enthusiasm for replenishment, which is beneficial to the long - term price. The spot price drags down the near - term futures price, while the long - term contracts show a tendency to stop falling and recover. The strategy suggestion is to lightly test long positions in long - term contracts [9][10]. 3. Summary by Directory 3.1 Week - on - Week Summary - **Market Review**: This week, the egg futures 08 contract bottomed out and rebounded, with a closing price of 3556 yuan/500 kilograms, an increase of 3 yuan/500 kilograms compared to the previous week [10]. - **Market Outlook**: After the festival, the egg market enters the seasonal demand off - peak. With high laying - hen inventory and new - laying hens coming into production, the supply is sufficient. The hot and humid weather increases storage costs, and downstream dealers are cautious in purchasing. Egg prices are at a low level, and the breeding side is in a loss state. If the spot price remains low, it may affect the laying - hen inventory, which is beneficial to long - term prices. The spot price drags down the near - term futures price, while the long - term contracts show signs of recovery [10]. - **Strategy Suggestion**: Lightly test long positions in long - term contracts [9]. 3.2 Futures and Spot Market - **Futures Price and Position**: The egg futures 08 contract bottomed out and rebounded, with a position of 228,245 lots, an increase of 40,890 lots compared to the previous week. The net position of the top 20 was - 7397, and the net short position increased slightly compared to last week [17]. - **Futures Warehouse Receipts**: As of Friday, the number of registered egg warehouse receipts was 0 [21]. - **Spot Price and Basis**: The egg spot price was reported at 2608 yuan/500 kilograms, a decrease of 187 yuan/500 kilograms compared to the previous week. The basis between the active 08 contract futures price and the spot average price was reported at - 948 yuan/ton [27]. - **Futures Inter - month Spread**: The 9 - 1 spread of egg futures was reported at 37 yuan/500 kilograms, at the lowest level in the same period [31]. - **Related Commodity Spot Prices**: As of June 12, 2025, the average wholesale price of pork was 20.33 yuan/kg, and the average wholesale price of 28 key - monitored vegetables was 4.34 yuan/kg [37]. 3.3 Industry Chain Situation - **Supply Side - Inventory and Replenishment**: As of March 31, 2025, the national laying - hen inventory index was 112.35, a month - on - month decrease of 3.51%. The national new - chick index was 138.68, a month - on - month increase of 20.46% [42]. - **Supply Side - Culling Index and Culling Age**: As of March 31, 2025, the national culled laying - hen index was 96.76, a month - on - month decrease of 18.30%. The national culling age was 510 days [48]. - **Feed Raw Material Prices**: As of June 12, 2025, the average spot price of corn was 2406.27 yuan/ton, and the spot price of soybean meal in Fangcheng was 2880 yuan/ton [52]. - **Feed Price and Breeding Profit**: As of June 6, 2025, the egg - hen breeding profit was - 0.44 yuan/hen, and the average price of egg - hen compound feed was 2.74 yuan/kg [59]. - **Egg - Hen Chick and Culled - Hen Prices**: As of June 6, 2025, the average price of egg - hen chicks in the main production areas was 4.1 yuan/chick, and the average price of culled hens was 9.26 yuan/kg [61]. - **Egg Exports**: In April 2025, the total egg export volume was 12,792.51 tons, an increase of 1680.12 tons compared to the same period last year, a year - on - year increase of 15.12%, and a month - on - month decrease of 110.81 tons compared to the previous month [67]. 3.4 Representative Company - Information about Xiaoming Co., Ltd. includes a graph of its price - earnings ratio change, but no specific analysis is provided [69].

Overview - Eggs are a significant source of protein in daily diets, with increasing consumer awareness regarding quality and nutritional value, leading to a rising demand for high-quality eggs such as organic and antibiotic-free eggs [1][12] - The fast-paced lifestyle is driving the demand for processed egg products like liquid eggs and egg powder, contributing to the growth of the deep processing sector [1][12] - In 2024, China's egg demand is projected to reach 30.62 million tons, with production at 30.76 million tons, resulting in a market size of 387.9 billion yuan and an average product price of approximately 12.67 yuan per kilogram [1][12] Market Policies - The Chinese government has implemented various policies to support the development of the agricultural sector, including the egg industry, creating a favorable policy environment [5][7] - Key policies include enhancing food safety regulations, improving agricultural product circulation, and promoting rural e-commerce [5][7] Industry Chain - The upstream of the egg industry primarily includes egg-laying hen breeding, machinery, and packaging materials, with egg-laying hen breeding being the most critical segment [8] - In 2024, the stock of breeding hens is expected to reach approximately 634,000 sets, with a steady increase in the stock of laying hens, which is crucial for the industry's growth [8] Consumption Structure - Currently, fresh consumption dominates the egg market in China, accounting for over 80% of total consumption, while the deep processing sector is still in its infancy [10][12] - The demand for processed egg products is expected to grow significantly due to diverse consumer needs and the development of the baking industry [10][12] Competitive Landscape - The Chinese egg market is characterized by a large number of small-scale producers, leading to intense competition [16] - Major players in the industry include Beijing Deqingyuan Agricultural Technology Co., Ltd., Fujian Guangyang Egg Industry Co., Ltd., and Wens Foodstuff Group Co., Ltd., among others [16][18] Development Trends - Future trends indicate that household consumption will remain dominant, but there will be a gradual diversification in outdoor and industrial consumption [22] - The demand for convenient, nutritious, and diverse egg products is expected to rise, with a growing market for high-quality liquid eggs and egg powders [22] - As consumer awareness of egg quality and safety increases, branded eggs are likely to gain market share, prompting companies to enhance product traceability and quality assurance [22]

沙门氏菌是威胁食品安全的常见病原体，鸡蛋作为日常高频消费品，其微生物安全至关重要。不少消费 者不禁担忧：中国鸡蛋是否安全？ 日前美国疾病控制与预防中心(CDC)和美国食品药品监督管理局(FDA)调查显示，一起多州沙门氏菌疫 情已导致至少170万枚鸡蛋被召回，这些鸡蛋在2月3日至5月15日期间分销至美国九个州，涵盖沃尔玛和 Safeway等多家连锁超市。截至目前，已有79人感染沙门氏菌，21人入院治疗，且疫情可能不限于已确 认病例的州，实际感染人数或更多。 从养殖源头看，国内部分企业已建立严格的防控体系。以黄天鹅鸡蛋为例，从蛋鸡的祖代就开始切断沙 门氏菌的带入，确保种源干净。黄天鹅在饲料环节，自建饲料工厂并构建严格管控体系，选用优质原 料，避免饲料成为沙门氏菌的传播途径，从饮食端保障蛋鸡健康，减少鸡蛋受污染的可能。 养殖过程中的生物防控也不容忽视。黄天鹅完善的养殖场生物防控体系，从鸡舍环境、养殖人员卫生、 饮水安全、空气流通到鸡群健康监控等多个维度，全方位抵御沙门氏菌侵入。例如，对鸡舍定期消毒、 规范养殖人员操作流程、实时监测鸡群健康状况等，尽可能为蛋鸡创造无菌或少菌的生长环境。 在检测方面，黄天鹅采用全链路大 ...

Group 1: Economic Development and Agricultural Innovation - The average household savings in Hai'an is 200,000 yuan, ranking among the top three in the province, highlighting the region's economic strength [1] - Hai'an is recognized for its modern agricultural practices, focusing on "industrial thinking" to promote common prosperity through a dual-driven approach of "industry + employment" [1][2] - The local government aims to increase the value of agricultural products, with a specific goal of raising the price of eggs by 0.2 yuan per kilogram, which could generate an additional 1 billion yuan for farmers [2][3] Group 2: Agricultural Value Chain and Employment - Hai'an has developed a comprehensive agricultural value chain, producing over 240,000 tons of eggs annually, with a total output value exceeding 10 billion yuan from the egg industry alone [3] - The region's agricultural industry cluster generated nearly 50 billion yuan in total output last year, significantly contributing to local employment [3] - Hai'an has established 19 standardized employment service stations, helping 2,640 unemployed individuals find jobs, emphasizing the importance of employment in rural revitalization [6] Group 3: Technological Integration and Cultural Development - The introduction of digital agriculture has led to an average increase of 30 kg per mu in crop yield and a cost saving of 100 yuan per mu, enhancing farmers' income [5] - Hai'an is promoting cultural enrichment through a public cultural service network, with numerous performances and cultural events reaching rural areas [7] - The local government is committed to building a national rural revitalization demonstration county, focusing on increasing agricultural efficiency and farmers' income [7]