Chicken production is expected to remain in line with year-ago levels through the rest of Q4, Rabobank RaboResearch said in its October 2020 North America Agribusiness Review.
Placement data over recent weeks is similar to a year ago, but hatchery supply on September 1 was up four percent YoY, suggesting an anticipation of stronger market conditions heading into the holidays, when a COVID-related production drop in Q2 2020 is factored in. “Q4 2020 production is expected to be in line with a year-ago, which translates into a 1.2 percent increase for the full year (down 0.3 percent from earlier expectations),” the report said.
Current RTC production is down 1.4 percent YoY to 831 million pounds. However, a three percent head slaughtered decline is somewhat offset by modest increases in average bird weight.
The report also covers other proteins as well as row crop production, specialty crops and beverages.
The full report can be found here.
