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Coronavirus restrictions have left Hubei poultry farmers unable to restock, with breeding supplier Orvia's China unit describing the situation. Duckling prices have fallen to a bottom of 5 cents each, and producers do not know what to do with their output.
Collapsing poultry prices and farmers shelving restocking reduce feed demand in China's key poultry province, which is bearish for feed ingredients.
reuters.comHallie GuFeb 4, 2020Not enough comparable past events yet for a historical read.
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.
