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Feed Strategy reports that COVID-19 has disrupted animal protein supply chains, with processing plant closures, labor shortages, broiler depopulation, pig slaughter bottlenecks and dairy culling. Retail demand for proteins surged as foodservice demand collapsed.
The article also notes ongoing African swine fever pressure on global meat supply.
Processing bottlenecks and herd culls reduce meat output while feed orders from integrators may fall, creating mixed price pressure across feed ingredients and livestock.
feedstrategy.comJackie RoembkeApr 22, 2020After 177 past bullish disease events, Lean Hogs moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
Not 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.
