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The outlook for the global poultry sector in 2014 is generally bullish, driven by the tailwind of sharply lower feed costs and tight global supplies of pork and beef (which are poultry's main substitutes). In Q3, producers in the Americas another quarter of favourable margins as tight supplies of competing proteins kept prices high and lower corn and soy meal prices drove more favourable feed costs, while EU producers follow here with some delay. Bucking a five year trend, Western Hemisphere producers outperformed their counterparts in the Eastern Hemisphere on profit margin for Q3 and for most of 2013.
