SunSirs: Egg Market is Stable and the Price Remains Unchanged
August 27 2021 07:54:34 SunSirs (Linda)
The egg price was 4.96 yuan/kg at the beginning of this week, and this weekend's egg price was 4.96 yuan/500g. The price was stable, and the price increased by 35.32% compared with the same period last year.
Market analysis
According to the month-on-month decrease in chicken sales, 37.72 million chickens were sold in June, which was -15.24% month-on-month and 16.42% year-on-year. Since June, the number of laying hens has dropped rapidly, mainly due to seasonal characteristics. The current low stock of laying hens supports spot egg prices.
In terms of demand: In the summer, the spot market has become seasonally strong. As the Mid-Autumn Festival approaches, the demand for stocking by food processing plants is gradually increasing. However, overall, the Mid-Autumn Festival consumption peak season this year will start slightly later than in previous years. On the supply side, the stock of laying hens, the sales of chicks, and the number of eliminated chickens all fell month-on-month in June. According to data from Zhuo Chuang Information, there were 1.184 billion laying hens in June, -0.42% month-on-month and -10.04% year-on-year.
Outlook
After entering August, the spot market will continue to maintain the traditional peak season, and the spot price will maintain an upward rhythm. The market is mainly concerned about low inventory and lower egg production rate, and the spot trend is relatively smooth.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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