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North Asian chicken leg prices were assessed at $1,885/mt at the end of November, down 0.8% on the month. Japanese importers are holding back on purchases because of high inventories and a weak yen, while South Korea's imports rebounded and H5 avian influenza was detected on farms there.
High inventories and a weak yen are limiting import demand for chicken in Japan, which pressures chicken prices. Avian influenza detections in South Korea add some supply risk, but the inventory overhang dominates near term.
spglobal.comRubashiny VeeramohanDec 3, 2024Not 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.
