Poultry Report

July 2, 2009

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The June broiler- feed price ratio was even with May matching the lowest ratio during the past 8 months and suggesting that fairly poor chicken producer margins persisted. Chicken production cutbacks are projected to persevere. The USDA is forecasting summer US chicken output to be 4.6% less than last year and 1.2% smaller than 2007. The chicken breast markets appear to be turning upward. Seasonal charts suggest that additional modest chicken breast market increases may be pending. The June egg-feed price ratio was a record low indicating poor margins for table egg producers. There are reports that China has stopped chicken imports from the US. If true and longstanding, the action could be bearish for US dark meat chicken prices and bullish for chicken breast prices.

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