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Rabobank reports egg prices reached record highs globally in 2023 with high volatility, supply disruptions and empty shelves in some markets. Prices in the US have dropped significantly as consumer demand fell while cage-free transition kept capacity high and avian flu cases dropped.
Global prices are expected to stay relatively high through 2023 and into 2024.
Egg price weakness in the US reflects oversupply, which can ease feed demand from layer operations, while high global egg prices signal continued strain on poultry producers' costs.
poultrynews.co.ukChloe RyanJun 20, 2023After 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.
