2025 年 8 月 25 日 研 究 鸡蛋：近端关注淘鸡节奏，远端情绪仍偏弱 吴昊 投资咨询从业资格号：Z0018592 wuhao8@gtht.com 【基本面跟踪】 鸡蛋基本面数据 | | 合 约 | 收盘价 | 日涨跌 | （%） | 成交变动 | 持仓变动 | | --- | --- | --- | --- | --- | --- | --- | | 期 货 | 鸡蛋2509 | 2,920 | -0.21 | | -22,993 | -10,271 | | | 鸡蛋2601 | 3,434 | -0.67 | | 2,423 | 7,456 | | | | | 最新日 | | 前一日 | | | 价 差 | 鸡蛋9-10价差 | | -113 | | -131 | | | | 鸡蛋9-1价差 | | -514 | | -558 | | | | | | 最新日 | | 前一日 | | | | 辽宁现货价格 | | 3.20 | | 3.30 | | | | 河北现货价格 | | 2.64 | | 2.64 | | | 产业链数据 | 山西现货价格 | | 3.00 | | 3.10 | | | | ...

Report Summary Core View - The report suggests laying out short positions for far - month contracts of eggs [1] Key Points from Different Sections Fundamental Tracking - **Futures Data**: The closing price of egg2507 is 2,821 with a daily increase of 0.39%, trading volume up by 23,556 and open interest down by 24,067; the closing price of egg2509 is 3,689 with a daily increase of 0.68%, trading volume up by 24,726 and open interest up by 13,625 [1] - **Spread Data**: The egg 7 - 8 spread is - 745 (previous day: - 740), and the egg 7 - 9 spread is - 868 (previous day: - 870) [1] - **Spot Price Data**: In different regions, the latest spot prices are as follows: 2.60 yuan/jin in Liaoning (previous day: 2.90), 2.53 yuan/jin in Hebei (previous day: 2.56), 2.70 yuan/jin in Shanxi (previous day: 2.90), 2.93 yuan/jin in Hubei (previous day: 3.00) [1] - **Industrial Chain Data**: The latest corn spot price is 2,339 yuan/ton (previous day: 2,313), the latest soybean meal spot price is 2,820 yuan/ton (previous day: 2,860), and the latest pig price in Henan is 14.98 yuan/kg (previous day: 14.93) [1] Trend Intensity - The trend intensity is 0, indicating a neutral view, with the range of trend intensity being integers within [- 2,2] where - 2 means most bearish and 2 means most bullish [1]

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].