SunSirs: The Market is generally Good with Stable Egg Prices in China
November 06 2023 11:06:09 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the egg price at the beginning of this week was 9.04 RMB/kg, and the egg price at the end of this week was 9.04 RMB/kg, indicating stable prices.
As the Double Eleven Festival approaches, many places are stocking up in advance, resulting in sufficient inventory. The enthusiasm of breeding units to hunt for chickens has increased, and the growth rate of egg supply has slowed down. As the Double Eleven Festival approaches, terminal demand may be slightly boosted. The speed of goods movement in the end market is relatively slow, with a slight decrease in feed costs and weakened support for egg price costs.
At present, the elimination of old chickens in domestic breeding is gradually stabilizing, with a slight increase in the number of newly opened laying hens. The inventory of laying hens has slightly increased, and the overall egg production capacity has also shown a stable to small increase trend. The situation of moderately loose supply has not changed. The prices of substitute products such as pork and poultry are relatively low, and the substitution effect has increased, limiting the purchasing volume of households on the consumer end. The prices of feed such as corn and soybean meal have been adjusted, and although the cost of breeding has decreased, the bottom support has also weakened.
Egg sales have not seen any volume increase, and the market needs positive news to boost it. It is expected that egg prices may be mainly volatile and weak.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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