
Rabobank projects global poultry market growth of only about 1% in 2023, with markets expected to improve gradually in Q4 2023 and early 2024. Lower feed costs and chicken prices are supporting demand recovery, with improving conditions in the US, Mexico, Japan, South Africa, Indonesia and China.
Lower feed costs support poultry demand, which supports feed grain and meal usage over the coming months. Brazil and Thailand face oversupply that could keep chicken prices pressured.
Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.