SunSirs: Egg Prices Fell in the Off-season
February 21 2023 10:41:57 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the egg price at the beginning of this week was 9.19 RMB/ton/kg, and the egg price at the end of this week was 9.08 RMB/ton/kg, the price fell by 1.20%, and the price increased by 17.62% compared with the same period last year.
Analysis review
In February, the number of new laying hens increased significantly. As for the elimination of old chickens, because the farmers concentrated on the elimination of old chickens before the Spring Festival, the price of eliminated chickens after the year was high, but the number of old chickens that could be eliminated was low. Considering that the actual number of old chickens sold was low, the stock level might not fluctuate much. The supply level in February was still low, which supported the bottom price of eggs.
As of the 17th, the egg price stabilized after it was reduced to near the comprehensive cost line, the market's bearish sentiment weakened, and the inventory supply capacity in February was still not high, the resistance to low prices in the breeding sector increased, the inventory in the downstream market gradually decreased, and the replenishment in the trade sector increased. It is necessary to pay close attention to the elimination of chickens this month.
Market outlook
Egg prices continue to decline in the current low consumption season, and it is expected that egg prices may be mainly sorted out in shock in the short term.
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