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Rabobank's Global animal protein outlook 2024 projects animal protein production will keep growing in 2024 but at a slower pace. Tight producer margins, elevated input costs, disease, weather and uncertain consumer demand are cited as drivers.
Slower meat and poultry output growth implies somewhat softer feed demand growth for corn and soymeal, though the effect is gradual.
feedstrategy.comAnn ReusNov 30, 2023After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
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.
