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USDA economists cut their U.S. broiler production forecast in the latest Livestock, Dairy & Poultry Outlook, though production and exports are still expected to rise. Foodservice demand has fallen sharply with restaurant closures, and some producers are harvesting large birds before market weight and scaling back egg sets.
Weaker foodservice demand and lower live weights reduce expected chicken supply growth against a softer demand base, which pressures chicken prices lower. Retail demand is only partly offsetting the loss.
feedstuffs.comKrissa WelshansApr 22, 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.
