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Cal-Maine Foods, the largest US egg producer, posted its first net loss in six quarters, with Southeast egg prices down by more than half year over year. Its CFO said prices may be near bottom and that producers losing money will likely cut output, while the US hen flock is near a record high.
Low egg prices and losses should lead to flock reductions, which reduce demand for feed over time. Weak export demand, down 12% in the first half, also weighs on the outlook.
thegazette.comBloomberg NewsJul 24, 2019Not enough comparable past events yet for a historical read.
Not 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.
