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USDA's January Livestock, Dairy and Poultry Outlook raised its 2020 broiler production forecast to 45.4 billion pounds, almost 4% above 2019. Whole bird prices are forecast at 86.5 cents per pound, 3% below 2019.
Larger broiler supplies relative to demand point to lower chicken prices, which weakens chicken as a competitor to pork and beef and keeps feed demand from poultry growing only modestly.
meatingplace.comLisa M. KeefeJan 20, 2020Not enough comparable past events yet for a historical read.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, SBM moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
