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A CoBank quarterly report said the coronavirus pandemic created mixed effects for animal proteins. U.S. chicken production rose 7.7% in the first two months of 2020 and chicken breast prices jumped beyond seasonal norms as home cooking increased.
Poultry export outlook weakened as foodservice demand and export forecasts came under pressure.
Stronger retail chicken demand supports domestic chicken prices, while weaker export demand could leave more supply in the US market and limit broader feed demand gains.
meatpoultry.comErica ShafferApr 3, 2020Not 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.
