SunSirs: Unexpected Transaction, China Egg Price Drops
January 16 2024 09:40:25 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the price of eggs was 8.65 RMB/kg at the beginning of last week, and 8.60 RMB/kg this week, with a price drop of 0.58%.
There is still more than a month before the Spring Festival, and food factories are involved in early processing, usually starting to stock up one month in advance. However, major food factories seem to be in no hurry to stock up this year. On the one hand, food factories are relatively pessimistic about the terminal demand this year, and their enthusiasm for stocking up is not high; On the other hand, the spot price of eggs is still in a downward trend, with a strong tendency to fall below the cost line. Food factories are buying up instead of falling, so they are not in a hurry to start stocking up in advance.
In terms of eliminating chickens, due to the impact of profit compression, the enthusiasm for eliminating chickens on the breeding end has significantly increased. However, the demand for eliminated chickens on the slaughtering end is not high. There may be a concentrated elimination of eliminated chickens before the Spring Festival, and the specific elimination situation needs to be further tracked. The terminal demand for eggs has been relatively flat, including pork and chicken, which are also fresh products. This year's prices are weak, making it difficult for eggs to form alternative consumption.
The egg market lacks confidence and transactions are weak, and it is expected that egg prices will mainly fluctuate and weaken this week.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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