SunSirs: General Demand, China Egg Prices is Falling
November 10 2023 10:26:06 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 8.91 RMB/kg, a decrease of 1.44%.
The egg production areas have sufficient supply of goods, but the performance of terminal demand is not good. Traders have a cautious attitude towards purchasing goods, and the inventory situation shows that there are still a small amount of surplus goods in the trade process. The main focus is on clearing inventory, and the demand for high-quality eggs has been driven by the Double Eleven Festival, but the strength is limited. The price of large eggs lacks support, and as egg prices decline, the enthusiasm of breeding units to eliminate them has increased.
In terms of eliminating chickens, due to the low profit of breeding, the willingness of breeding farms to eliminate them has increased. At present, the number of eligible old chickens for washing is relatively small, and the demand for washing chickens is average. It is expected that the egg market will have abundant supply in November. From a demand perspective, the overall market demand expectation for November is relatively short.
The lack of effective pulling force on the demand side of the market and the deviation of terminal receiving capacity are expected to lead to a weak and volatile trend in egg prices.
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