SunSirs: China Egg Prices drop during the Gff-season of Transactions
July 03 2023 10:08:26 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the egg price was 8.22 RMB/kg at the beginning of this week, and 8.29 RMB/kg at the end of this week. The price decreased by 1.46%, and the price decreased by 6.79% compared to the same period last year.
In terms of spot goods, there is a demand for replenishment in the downstream after the Dragon Boat Festival, but due to the high temperature weather, it is more difficult to store eggs. All links of procurement are more cautious, and the demand remains low. Some traders' replenishment on bargain hunting may have a certain boost to the egg price, but it is expected that the spot price rebound is limited.
In terms of the chicken seedling market, chicken breeding enterprises mainly place orders and incubate them, with some orders scheduled for mid to late July. The utilization rate of breeding eggs is mostly between 30%-50%. In terms of chicken seedling sales, the sales volume of sample chicken seedlings in May was 44.36 million, a decrease of 3.50% month on month and a year-on-year increase of 10.13%.
Affected by the off-season, egg prices are weak, and it is expected that in the short term, egg prices may mainly fluctuate and weaken.
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