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Contract chicken growers in the US South and East Coast are losing flocks as COVID-19 outbreaks force integrators to trim processing. About one-quarter of poultry plants have noticeable disruptions, with some running 20% to 40% below normal.
Reduced processing and fewer flocks cut broiler output and chicken demand for feed, which is mildly bearish for chicken prices and corn and soymeal usage.
agri-pulse.comEd MaixnerMay 12, 2020Not enough comparable past events yet for a historical read.
After 175 past bearish disease events, Corn moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.5%), and +0.6% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% 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.
