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Chicken producer margins and boneless skinless breast prices are both historically depressed, with US chicken production estimated 6% below year-ago levels over the last three weeks. Breast prices rallied early in 2020 but have declined over the past two weeks, while beef and pork prices have also weakened.
Weak protein demand and poor chicken margins are prompting production cuts, which reduce feed grain demand; producers want feed cost relief, so lower feed prices would help them.
agweb.comNov 22, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
