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A CoBank report says US meat and poultry producers rely more heavily on export demand than ever, as production and capacity expand faster than domestic consumption. The report expects exports to underpin further industry growth, while noting that export volatility carries risk.
Growing reliance on exports raises the importance of trade flows for US protein demand, which affects feed grain and meal demand from livestock and poultry producers. The report does not indicate a near-term price shock.
meatpoultry.comJoel CrewsJan 30, 2019After 28 past neutral trade events, Lean Hogs moved a median -0.4% over 5 sessions (46% higher; middle half -2.2% to +0.7%), and -0.3% over 20.
Not enough comparable past events yet for a historical read.
After 65 past neutral trade events, Live Cattle moved a median +0.3% over 5 sessions (57% higher; middle half -0.5% to +1.4%), and +2.5% 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.
