On Turkey Day eve, have we reached peak chicken?
Before we get to chickens, here’s Marketplace’s Paddy Hirsch explaining the short sale:
What do short sales have to do with chickens? With chicken prices skyrocketing this year, some traders are betting that stock in American chicken producers like Pilgrim’s Pride Corp. and Sanderson Farms Inc. can only go down from here, according to Bloomberg reporter Megan Durisin.
“Some people are speculating that maybe the rising supplies of chicken is going to be pushing the price of chickens down,” Durisin says.
But if Wall Street is ready to cash in on a bet that we have reached peak chicken, does that mean consumers can look forward to a cheaper chicken at the grocery store? According to Durisin, the answer is maybe.
“The wholesale and retail prices don’t always move exactly hand in hand,” she says, “but consumers certainly could see cheaper chicken next year.”
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