According to Mysteel, bearish sentiment in the market has continued to intensify recently, with trading activity in the industry turning sluggish. Due to a combination of factors such as weak end-user demand, adverse weather, and negative market sentiment, egg prices have fallen rapidly, with a weekly drop of 7.57%. Market inventories have gradually accumulated, highlighting the pressure on the overall market trend.
According to Mysteel, bearish sentiment in the market has continued to intensify recently, with trading activity in the industry turning sluggish. Due to a combination of factors such as weak end-user demand, adverse weather, and negative market sentiment, egg prices have fallen rapidly, with a weekly drop of 7.57%. Market inventories have gradually accumulated, highlighting the pressure on the overall market trend.
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It is expected that the egg market will continue its weak performance in late June, with prices likely to keep declining. A rebound in egg prices may only occur once the market sees bottom-fishing and concentrated stockpiling activities.
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