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CoBank's report US Poultry Outlook: This Time Things Are Different says the poultry industry is more resilient than in 2008-2009 despite record profitability since 2012 and possible price declines. It projects 1.5% chicken production growth, below the 2.5% five-year average.
Slower projected production growth implies somewhat softer demand for feed grains and meal over time, while improved industry pricing structures help producers pass through feed cost changes.
meatpoultry.comRyan McCarthyJun 19, 2019Not enough comparable past events yet for a historical read.
After 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.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), 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.
