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USDA's Foreign Agricultural Service forecasts China's chicken meat production and consumption to decline modestly in 2024 versus 2023. The drop reflects HPAI-related import restrictions on avian genetics, live poultry market closures and price pressure carried over from 2023.
Chicken meat imports are forecast at 770,000 metric tons.
Lower Chinese broiler output reduces feed grain and meal demand from China's largest poultry sector, a bearish factor for global feed trade. The effect is modest given the forecast scale.
meatingplace.comChris MooreFeb 20, 2024Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
