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US chicken production and prices have remained low through 2020 compared with 2019 and the 2016-2018 average, according to a University of Arkansas analysis. Broiler processing has stayed at or below 2019 levels since late March.
Lower US broiler output reduces domestic feed grain and soybean meal consumption, which is bearish for feed demand.
hpj.comHPJ StaffAug 18, 2020After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
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.
