Hello, the latest price shows the latest price of the smallest change unit, not the first-hand price. The first-hand price is the latest displayed price multiplied by the corresponding first-hand unit. For example, for the 1409 contract, the latest price is 5 150 (Figure 1), which means the value is 5000kg, but the first-hand fresh egg is 5 tons (Figure 2), which means the first-hand contract value is 5 1500 yuan. We will find that this has nothing to do with the margin ratio.

Figure 1

Figure ii

I hope it will help the landlord, thank you.