October 28, 2020
China AA Broiler: Prices consolidate after recent rally (week ended Oct 23, 2020)
AA broiler producers, who were incurring losses, held back releases and stood firm on prices. However, as slaughterhouses were prudent with purchases while the demand for chicken products stayed slow, price rise of AA broiler slowed prominently following the previous week's 20% rally.
With demand stable, AA chick prices increased RMB0.20-0.30 to the range of RMB1-1.20/chick.
Soaring corn and soymeal prices have lifted the feed costs of broiler farming substantially. AA broiler producers farmers will attempt to hold up prices in a bid weeks to cover rising farming costs.
Full version of the report will be available at: https://spoutinfo.com/market-forecast-detail/30/32/281/2446
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