SunSirs: Weak Consumption, China Egg Prices is Falling
April 12 2024 10:56:16 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 6.92 RMB/kg, and the price of eggs at the end of this week was 6.83 RMB/kg, a decrease of 1.30%.
From the demand side, the demand for eggs in the market is gradually recovering, but due to terminal demand limitations, sales recovery is limited, leading to another decline in egg prices. The increase in the number of laying hens sold has become a major factor in the recent weakness of egg prices due to strong supply and weak demand. In April, the newly produced laying hens were chicks that were restocked around December 2023. The current proportion of eligible laying hens to be eliminated is limited, and the theoretical inventory of laying hens may continue to increase compared to March.
During the Qingming Festival holiday, some breeders are expecting prices to rise, and there is a certain atmosphere of speculation in the market. However, the egg production rate of laying hens has increased, and the supply of eggs has gradually increased. In addition, market consumption has not met expectations, especially in the southern region where rainy and humid weather has increased the difficulty of egg storage. Traders are cautious, and the market supply and demand relationship shows a pattern of supply exceeding demand.
The demand for eggs in the market is limited, and transactions are weak. It is expected that egg prices will mainly fluctuate and weaken next week.
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