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USDA Outlook Chairman Mark Jekanowski said the agency now projects 2022 US poultry production at 45.5 billion pounds, 120 million pounds lower than the prior month's forecast. Broiler prices are projected at $1.13 per pound, up 11.5% year on year.
Lower projected production and higher broiler prices point to tighter chicken supply, supporting poultry prices, while high feed costs are slowing flock expansion, which is relevant for feed demand.
wattagnet.comEmma CottrellFeb 18, 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.
