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Supporting the Ontario Chicken Market During COVID-19

BURLINGTON, ON - Chicken Farmers of Ontario is working closely with our industry to ensure Ontarians have access to a steady supply of fresh, locally grown chicken during the COVID-19 pandemic, including assessing how best to balance supply with consumer demand.
 
Our industry has observed that, many consumers have adjusted where and what they eat which is resulting in a temporary decline in demand for fresh chicken. In an effort to balance supply with current demand expectations, Ontario chicken farmers, in consultation with our industry partners, will temporarily reduce production effective Friday, April 3, 2020.
 
Ontario’s chicken farmers continue to work hard everyday to raise chicken while following the highest levels of on-farm food safety, animal care and biosecurity. We commend our farmers for their dedication and diligence during this unprecedented time.
Source : CFO

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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!