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LMIC data show per capita summer meat supplies are the largest since 2020, with chicken production forecast up 2.2% this summer and 2.9% for the year. Wholesale chicken breast prices are down 30% from a year earlier, squeezing processor margins.
Ample US chicken supply is pressuring poultry prices and processor margins, which could reduce chicken production incentives and feed demand. The trend is bearish for poultry and modestly bearish for feed grains.
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.