SunSirs: During the Off-season of Consumption, China Egg Prices have Fallen
April 19 2024 14:28:48 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 6.94 RMB/kg, and the price of eggs at the end of this week was 6.91 RMB/kg, a decrease of 0.43%.
The egg market is showing a stable to weak trend, with egg prices in major production areas across the country slowly declining. At present, China's egg production is at a high level and the market supply is sufficient. Due to the relatively flat market demand and slow digestion of domestic sales in the production area, traders in the sales area have a cautious purchasing attitude in the rainy weather in the south.
It is unlikely that there will be a significant improvement in short-term demand performance due to the combination of a broad supply and the low consumption season in April. The current trend of continued decline in feed costs will weaken the support for spot egg prices. Considering the weak egg consumption during the rainy season in June, it is expected that June futures contracts will perform poorly.
The purchasing power of eggs is lower than expected, and it is expected that the price of eggs will mainly fluctuate and weaken in the short term.
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