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Wingstop told analysts that spot bone-in wing prices hit a record $3.22 per pound in Q3, up 84% year over year. Spot prices have since fallen to $2.87 per pound, and frozen wing inventories are approaching 2019 levels.
The company plans to rely less on spot purchases and gain more control of its chicken supply chain.
Falling spot wing prices and rebuilding frozen inventories point to looser chicken supply, a bearish signal for chicken prices.
qsrmagazine.comBen ColeyNov 4, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
