Eggs: Mid-Autumn Festival Boosts Egg Prices, but Upside Limited

Egg Market Analysis

Today's egg prices in major producing regions continued yesterday's trend, stable with upward movement. The average red egg price was 5.11 yuan/jin, and the average pink egg price was 5.30 yuan/jin, with the red-pink price spread widening to 0.19. The average price in major producing areas was 5.13 yuan/jin, up 0.04 from the previous trading day. The Mid-Autumn Festival domestic sales boost continues to support the market, with shipment pace in major producing regions maintaining a relatively fast rhythm, providing phased support for egg prices. However, current egg prices are already at relatively high levels, and the terminal market's acceptance of high prices is limited. Procurement sentiment has turned cautious, and subsequent demand support may gradually weaken. The room for further price increases is already limited.

Egg Market Prices

Egg Market Outlook

Supply Side

Chicks placed in May have begun to come into production one after another, with the number of newly laying hens continuing to grow. Most farmers are not optimistic about the post-festival market, but culling pace remains normal with no panic selling. Supply pressure is gradually accumulating.

Demand Side

Mid-Autumn Festival stocking demand continues to be released, providing some support to the market. However, as egg prices rise, downstream procurement sentiment has turned cautious. Most buyers purchase based on their own shipment conditions, with weak willingness to hoard, and shipment pace remains steady.

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Overall Outlook

Overall, the festival effect continues to support demand, shipment in producing areas remains relatively fast, inventory stays at low levels, and egg prices may continue to trend stable to firm. However, price gains will be moderate and controllable.

Egg Futures Trends

On September 9, the Dalian Commodity Exchange (DCE) egg futures main contract 2611 opened at 3,807, with a high of 3,836, a low of 3,796, and a settlement price of 3,819, up 2/0.05%. Trading volume was 3,287,982 lots, with open interest of 270,019 lots.

Egg Index Analysis

According to Cold Chain Duoduo data calculations, on September 9, the domestic egg spot price index was 5.243, up 0.061 from the previous working day.