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USDA's July Livestock, Dairy and Poultry Outlook projects 2% broiler growth, 1.7% egg growth and 0.3% turkey growth over the next year. The growth is attributed mainly to domestic consumption, with broiler production forecasts raised on higher placements and bird weights.
Expanding US broiler output increases demand for feed grains and soybean meal, supporting feed-use demand while adding supply pressure on chicken prices.
foodagribusiness.worldTony McDougalAug 1, 2018Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
