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BMO Capital Markets analyst Ken Zaslow says record-low chicken breast prices are squeezing chicken margins into a no-man's land where production cuts are unlikely. Beef and pork margins are strong on tight supply-demand balances, and cattle expansion is expected to sustain beef margins.
Chicken oversupply and weak breast prices keep poultry production high, while strong beef and pork margins signal continued herd and hog numbers that support demand for feed. Price direction for chicken is bearish with firm red meat outlook.
meatingplace.comTom JohnstonOct 15, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
