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USDA reported that third-quarter 2016 broiler production was slightly lower than expected, with chicken exports at their highest since March 2015. The agency cut its fourth-quarter whole broiler price forecast to 72-74 cents per pound and lowered its 2017 forecast to 77-84 cents.
Lower USDA broiler price forecasts signal weaker poultry returns into 2017, which can reduce feed grain and meal demand from integrators.
meatingplace.comRita Jane GabbettNov 17, 2016Not enough comparable past events yet for a historical read.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral report events, SBM moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
