Loading…
US egg producers face 2024 cost and market variables, including lower feed costs. The December 2023 WASDE projected the 2023-24 corn price at $4.85 per bushel, down 26%, and soybean meal at $390 per ton, down 14%.
Ongoing HPAI risk and industry consolidation are also cited as factors.
Lower projected corn and soymeal prices reduce layer feed costs, which supports egg producer margins and can sustain flock rebuilding.
wattagnet.comTerrence O'KeefeJan 11, 2024After 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.
