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Ceva's April poultry market outlook reports soybean meal prices declined across all markets in April on large South American harvest expectations of about 150 Mt in Brazil and 50 Mt in Argentina. Corn prices in Chicago edged up on lower reported US acreage, while Argentine production estimates were cut 3 Mt by USDA due to a crop disease.
Broiler chicken prices were relatively stable, with persistent HPAI cases affecting US production and exports.
Large South American soymeal supply pressures US meal export competitiveness and weighs on meal prices, while US HPAI cases constrain chicken output and support poultry prices.
poultry.ceva.comApr 30, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
