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CoBank says U.S. chicken production fell only about 1% in the second quarter versus nearly a 10% drop in red meat output. Chicken prices swung sharply as demand shifted from foodservice to retail, and composite prices bottomed in mid-April at 35% below year-ago levels before recovering.
Chicken supply has held up better than beef or pork, so prices are recovering but remain below last year, which keeps poultry-based feed demand soft. Feed buyers should expect continued volatility in chicken margins and limited support for feed ingredients tied to poultry.
feedstuffs.comJul 14, 2020Not 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.
