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Pilgrim's Pride reported a sharp drop in third-quarter earnings, which it blamed on a challenging US pricing environment. Trade disputes have increased beef and pork supplies, pressuring chicken sales, and the company expects the pressure to ease in 2019.
Excess beef and pork supplies and weaker chicken pricing reduce margins for processors and may slow chicken production growth, which affects feed demand.
southeastagnet.comDanNov 7, 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.
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.
