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CoBank's quarterly report raised its 2020 U.S. chicken supply growth forecast to 3-4% from 2-3%, after production rose 7.7% in the first two months of the year. Consumers shifting to at-home dining pushed chicken breast prices up faster than the seasonal norm.
Stronger retail demand is lifting chicken prices, but higher supply growth limits the upside. Whether the price gains hold depends on how much foodservice demand shifts to retail.
wattagnet.comElizabeth DoughmanApr 6, 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.
