SunSirs: Egg Prices Rose First and Then Fell in October
October 27 2023 10:47:30 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the price of eggs at the beginning of this month was 9.27 RMB/kg, and at the end of this month, the price of eggs was 9.02 RMB/kg, a decrease of 2.70%, and a decrease of 27.96% compared to the same period last year.
Analysis review
In early October, market transactions were positive, and the price of eggs rose. As the demand for double holiday stocking weakened, the pre holiday reserve supply of end consumers had not yet been digested, and the purchase volume after the holiday decreased significantly. After the holiday, orders from food enterprises also decreased, and the purchasing enthusiasm of food factories decreased. Downstream merchants were cautious in purchasing goods, so the overall egg market situation in October was weaker.
The temperature was suitable, and the storage time of eggs had become longer. As the egg price gradually bottomed out, some dealers were willing to copy the bottom, while some sales had slightly improved, and the pressure on surplus goods in various stages had decreased. In addition, the price was close to the cost line, and breeding units were reluctant to sell. However, there was still no significant improvement in terminal consumption, there was only inventory transfer between production and circulation links, and the trend was still weak.
Market outlook
The supply of eggs was sufficient, and downstream purchases were not active. It is expected that the short-term trend of egg prices may be mainly volatile and weaker.
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