SunSirs: Weak Consumption, China Egg Prices is Falling
December 15 2023 14:01:14 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the price of eggs at the beginning of this week was 9.59 RMB/kg, and the price of eggs at the end of this week was 9.46 RMB/kg, a decrease of 1.36%.
In terms of supply, traders have a strong bullish sentiment during rainy and snowy weather, and some production areas have some hoarding behavior. In the early stage, the low price has led to an increase in the number of eliminated eggs, which has supported the low price of eggs. The number of new laying hens has increased, the intention to eliminate old chickens has increased, and the year-on-year trend of small eggs is weak. The inventory of laying hens continues to increase, and the supply of eggs is relatively sufficient.
On the demand side, egg prices have fallen, and downstream wholesalers have taken advantage of the trend to purchase low-priced goods. The overall arrival volume in the sales area has slightly increased, and terminal demand is weak. The sales volume is average and there is no obvious positive support. In the case of excessive inventory, heavy snow may only affect the market for one or two days. Due to the collapse of market shipping prices, after fulfilling bearish expectations, the market is currently at a discount and waiting for a rebound to continue empty.
As the temperature turns colder and the storage time of eggs extends, the overall supply of eggs in the market is relatively sufficient, and it is expected that egg prices may fluctuate weakly.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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