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Rabobank's Poultry Quarterly expects improved poultry returns in 2020 as Asian countries hit by African swine fever turn to chicken as a substitute protein. The bank forecasts China's pork output to fall a further 15% after a 25% drop in 2019.
Expected pork shortfalls in Asia support demand for poultry and feed, which is bullish for feed grains and meal demand, though oversupply and volatility remain risks.
meatpoultry.comErica ShafferDec 18, 2019Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
