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USDA FAS reported that South Africa's HPAI outbreak, first detected in Western Cape in April 2023, has slowed, with 7.5 million birds culled from April to September and 750,000 in October and November. Import permits were issued for 9 million fertilized eggs, 945,000 day-old chicks, 62 metric tons of egg products and 30,986 metric tons of poultry meat to rebuild flocks.
Rising South African poultry imports support global poultry meat demand, which modestly supports chicken prices and feed use.
fas.usda.govDec 20, 2023Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
