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US egg prices rose 19.1% year-on-year in July, far above the 2.9% overall CPI increase, according to consumer price index data released in mid-August. A roughly 8% jump from March to April was the largest monthly rise since spring 2023.
Analysts link the surge to continued highly pathogenic avian influenza outbreaks limiting supply.
Reduced laying-hen numbers from bird flu keep table egg supply tight and retail prices elevated, which matters for feed buyers because layer demand for feed is shrinking while egg prices stay high.
cnbc.comAlex Harring, Gabriel CortésAug 17, 2024After 175 past bearish disease events, CORN moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, SBM moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.
