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Wholesale chicken prices in the U.S. have fallen even as grocery shoppers stockpiled meat in March and early April. Economist Will Sawyer of CoBank says consumers who stockpiled are now destocking and eating from their freezers.
Destocking by households cuts retail buying just as processors have plenty of product in the pipeline, which pushes wholesale chicken prices lower. Supply will take time to adjust.
Not 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.