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USDA's Economic Research Service reports that the U.S. table-egg laying hen inventory reached record highs, with nearly 331 million hens in December 2018 after recovering from a 2015 avian flu low. Egg-laying rates also rose to over 79 eggs per 100 hens per day.
A larger laying flock and higher lay rates expand egg supply, which is bearish for egg prices and cheapens eggs as a feed-buyer protein alternative; the effect on feed demand from layers is supportive but gradual.
ers.usda.govSep 5, 2019After 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.
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.
