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Cal-Maine Foods reported fiscal 2023 operating income of US$967.7 million, up 575% from fiscal 2022, driven by high shell egg prices from the HPAI outbreak. The company said fourth-quarter prices fell significantly from the year's peak as the industry recovers.
The large profit gains reflect past egg price spikes that are now reversing as supply rebuilds, so layer demand for feed is expected to ease. The result is a backward-looking earnings report with limited direct feed price impact.
wattagnet.comMeredith DawsonJul 27, 2023Not 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.
