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USDA data show broiler production rose 3.6% in the third quarter while chicken ending stocks were 17% higher than a year earlier at 925 million pounds. Producers are cutting chick placements in response to weak demand and low wholesale prices for some cuts.
Growing freezer inventories and reduced placements point to weaker chicken prices near term, with lower demand for chicken feed grains and meal if output slows.
meatingplace.comSusan KellyNov 29, 2018Not 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.
