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Rabobank's Global Animal Protein Outlook 2020 says African swine fever will keep shifting demand toward poultry as China's consumption of chicken rises. China's poultry meat imports rose 51% in the first nine months of 2019, and North American broiler output is forecast at a record in 2020.
Chinese demand for poultry as a pork substitute supports export prices for chicken and raises the demand for feed grains and meal in exporting countries.
wattagnet.comMark ClementsJan 14, 2020Not enough comparable past events yet for a historical read.
After 56 past bullish disease events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.5% to +1.6%), and +0.8% over 20.
After 67 past bullish disease events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.9%), 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.
