Eggs: A dramatic change! Falling, falling, falling!
Egg Market Analysis
Egg prices fell today in major producing regions. The average price in major producing areas was 3.74 yuan/jin, a decrease of 0.26 yuan/jin compared to the previous business day. The average price for brown eggs was 3.76 yuan/jin, and the average price for white eggs was 3.6 yuan/jin, with a price difference of 0.16 yuan/jin. Egg market prices generally showed a downward trend today. The current laying hen inventory is at a high level, and traders and farmers, considering cash flow and avoiding holiday risks, tend to concentrate their sales before the holidays, leading to a significant increase in the quantity of eggs circulating in the market. Meanwhile, demand has largely been met, creating a noticeable gap in demand before the holidays.
Egg market price
Egg market forecast
From the supply side, the current number of laying hens remains at a relatively high level, and the overall culling volume in January was not significant, resulting in only a small decrease in production capacity. It's also important to note that various stages of the supply chain are currently facing pressure from inventory accumulation.
From the demand side, the peak demand driven by food companies stocking up and household consumption before the Spring Festival has passed. However, as the festival approaches, concentrated purchasing demand will gradually decline, and after the festival, overall market trading will enter the traditional off-season.
In summary, egg prices are expected to fall slightly in the short term, showing a weak trend.
Egg futures price trends
On February 2nd, the main egg futures contract 2603 on the Dalian Commodity Exchange (DCE) opened at 2951, reached a high of 2988, a low of 2950, and settled at 2975, down -34 or 1.13%. The trading volume was 172,097 lots, and the open interest was 180,423 lots.
Egg Price Index Analysis
According to data from Lengchain Duoduo, the domestic spot price index for eggs on February 2nd was 3.648, a decrease of 0.225 compared to the previous working day, representing a drop of 5.809%.
