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USDA's monthly CPI showed retail poultry prices fell 0.9% from June to July and are down 1.8% year over year. Higher production and heavier bird weights have raised supply forecasts for the rest of 2019, and USDA revised its 2019 poultry price forecast downward.
Expanding poultry supply and softer retail prices point to weaker chicken prices ahead, which reduces the incentive to expand poultry feed demand.
meatingplace.comRita Jane GabbettAug 27, 2019Not enough comparable past events yet for a historical read.
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.
