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Farmer Mac's quarterly outlook says broiler production will rise 1.6% in 2017, outpacing consumption growth. US frozen chicken stocks in cold storage are 7% above the 10-year average.
Turkey exports are 26% below 2014 levels, and egg prices have fallen to levels that overshot 2013 and 2014.
Excess poultry stocks and rising output keep chicken prices under pressure. Lower prices and feed costs will drive producer margins in 2017.
feedstuffs.comKrissa Welshans 1Feb 8, 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.
