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Midwest Grade A large egg prices held at a record $4.18 per dozen in early October, the third all-time high this year. Low inventories and an persistent avian influenza outbreak that has hit large egg-laying facilities are driving prices.
Losses in the US laying flock reduce demand for feed in egg production, which is mildly bearish for corn and soybean meal, while the shortage supports egg prices.
meatpoultry.comCrystal FutrellOct 7, 2022After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.
