Core Viewpoint - The company anticipates a tighter supply of quality broiler chicks in the second half of 2026, leading to favorable pricing conditions due to a decrease in grandparent stock and ongoing demand from downstream breeding farms [1] Supply Side Analysis - The reduction in grandparent stock will impact the supply of broiler chicks approximately 14 months later, indicating a potential supply constraint in 2026 [1] Demand Side Analysis - Downstream breeding farms are continuing to expand their production capacity, resulting in strong incremental demand for broiler chicks [1] - The market conditions for broiler chicks in 2026 are expected to outperform the favorable price performance seen in 2024 [1]