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USDA reports that US shell egg inventories are 23-32% higher year over year, averaging over 910,000 thirty-dozen cases. Wholesale prices held at $1.16 per dozen in November despite typical seasonal increases.
USDA left its fourth-quarter wholesale price forecast unchanged.
Large egg stocks and flat prices point to softer layer demand for feed relative to a normal holiday season. Egg prices are expected to rise only if retail demand picks up.
feedstuffs.comNov 18, 2020After 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.
