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WATTPoultry reports US broiler producers are optimistic, with 2018 broiler output projected at 43.2 billion pounds RTC, up about 4 percent from 2017. Total US red meat and poultry production is expected to rise 4 percent in 2018.
Expanding US broiler and meat output raises feed grain and meal demand, but also adds supply that could weigh on chicken prices.
wattagnet.comMark JordanMar 12, 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, SBM 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.
