Eggs: Positive factors ease! Egg prices soften!
Egg Market Analysis
Today, egg prices in major producing areas weakened in some areas. The average price in major producing areas was 4.78 yuan/jin, a decrease of 0.01 yuan/jin compared to the previous working day. The average price of red eggs was 4.78 yuan/jin, and the average price of pink eggs was 4.80 yuan/jin, with a price difference of 0.02 yuan/jin. Today, egg prices across the country were mixed, with some remaining stable and others declining.
High temperatures persisted, and inventory levels at all stages remained generally low, although some areas saw a slight increase in inventory. Market sales were stable. Today, red egg prices remained stable, while pink egg prices declined slightly. Due to weakened market trading and increased wait-and-see attitude among enterprises, egg prices were generally stable to slightly weaker.
Egg Market Prices
Egg Market Outlook
From the supply side, weather conditions have led to a decrease in egg production rates in some areas, and an increase in the slaughter of older hens. Supply remains tight in some areas, providing some support for egg prices. The number of days of circulating inventory remains low, but recently, circulating inventory in some areas has slightly increased, putting downward pressure on market sentiment and creating a divergence on the supply side.
From the demand side, the plum rain season in southern China is gradually ending, and the hot and humid environment is gradually easing. Terminal restocking demand may increase. Demand for Mid-Autumn Festival and National Day holiday restocking has not yet started, and the market is mostly cautiously observing. There is still some bargain-hunting mentality in the market, and low-priced eggs are stable with a slight upward bias.
Overall, the arrival of the seasonal peak demand will still take some time. At present, the positive support is gradually weakening, and it is difficult to support a continued significant increase in egg prices in the short term. Egg prices are generally firm and stable, with slight declines in some individual prices.
Egg Futures Trends
On July 22, the opening price of the main egg futures contract 2609 on the Dalian Commodity Exchange (DCE) was 4152, the highest price was 4172, the lowest price was 4112, and the settlement price was 4142, down 21/-0.51%, with a trading volume of 627,702 lots and an open interest of 276,022 lots.
Egg Price Index Analysis
According to data from Lenglianduoduo, the domestic spot egg price index was 4.794 on July 22, a decrease of 0.056 from the previous day, a drop of 1.155%.
