Egg: Egg Prices Stage Bottoming Out, Wait and See(Oct 19)
Egg: Egg Prices Stage Bottoming Out, Wait and See
Egg Market Analysis
Egg Market Price
Egg Market Outlook
From the supply side, as temperatures drop after autumn, laying hens' egg production rates recover from the summer rest period, and daily egg output increases month-on-month.
From the demand side, after the end of National Day stockpiling, food factories, tourism and catering, and household purchasing demand have all declined simultaneously, and the market has entered the traditional off-season.
Overall, new production capacity on the supply side continues to be released, while the demand side lacks favorable drivers. In the short term, egg prices are highly likely to maintain a weak and volatile trend.
Egg Futures Trend
On October 19, the main contract 2612 of egg futures on the Dalian Commodity Exchange (DCE) opened at 3,334, with a high of 3,345, low of 3,235, and settlement price of 3,282, down 49/1.46%. Trading volume was 465,917 lots, with open interest of 285,014 lots.
Egg Index Analysis
According to Cold Chain Duoduo data calculations, on October 19, the domestic egg spot price index was 3.794, down 0.20 compared to the previous working day.
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