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Reuters reports that US chicken demand is weakening as expanded pork and beef supplies, partly caused by trade disputes, lower prices for pork and beef in retail. Retaliatory duties of 62% in China and up to 20% in Mexico have cut US pork exports, and chicken producers are expected to lose money or break even in Q4 2018.
Trade-driven pork oversupply is pulling demand from chicken, which pressures broiler prices and margins and could reduce demand for soybean meal in poultry rations.
thepoultrysite.comNov 13, 2018Not enough comparable past events yet for a historical read.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
