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USDA's Livestock, Dairy, and Poultry Outlook reported the US table egg layer flock contracted to 321.6 million birds in May, 4.5% below 2019. Lay rates fell 2% year over year as more hens were molted to be kept for retail production.
A smaller layer flock reduces demand for feed in the US egg sector, a mildly bearish factor for corn and soymeal, though the report shows producers may be rebuilding retail output.
feedstuffs.comKrissa WelshansJul 17, 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.
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.
