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BuzzFeed reports that U.S. egg producers are losing money at current prices and the industry is producing more than the market needs. Cal-Maine's CEO said cage-free supply exceeds demand, and the company has cut some production, with some observers estimating 6 to 8 million hens must be removed to rebalance supply.
Industry cutbacks, if they reduce hen numbers, would eventually lower layer feed demand, but the current oversupply keeps near-term egg-related feed demand weak.
buzzfeednews.comVenessa WongJun 12, 2017Not 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.
