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University of Missouri economist Scott Brown says USDA's latest Supply and Demand report raised chicken production forecasts for 2022 and 2023 and lowered prices. He warns that rising HPAI cases could pull back production, which would lift chicken, egg and turkey prices.
USDA's forecast of higher chicken output is at risk if HPAI reduces flock sizes, which would tighten poultry supply. USDA's projected corn and soybean meal costs were roughly unchanged, so feed input costs are not a major new driver.
brownfieldagnews.comMeghan GrebnerSep 19, 2022Not 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.
