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Brazil's Ministry of Agriculture reported a Newcastle disease outbreak in commercial poultry in Anta Gorda, Rio Grande do Sul, and imposed export restrictions on chicken, eggs and other poultry products from July 18. Exports to Argentina, the EU and China, Brazil's largest chicken export market, were halted.
Market participants expect domestic chicken prices to face downward pressure from increased local supply.
Brazil is a major chicken exporter, so the loss of key export markets redirects supply into the domestic market and weighs on local chicken prices. Trade flows may shift toward other exporters, which could support prices elsewhere.
spglobal.comJul 19, 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.
