Wholesale turkey prices in the US have risen 12% this year, according to a Fox Business report cited by americanbazaaronline. A producer, DiPaola Turkey Farms, raised its prices by 30 cents per pound because feed corn and soybean costs are up 10-12%.
Wells Fargo's Thanksgiving food report, however, shows six of 10 holiday food items, including turkey (down 0.5%), declined in retail price.
Higher corn and soybean feed costs are squeezing turkey producers, which supports demand for feed grains and soymeal. The retail price picture is mixed, so the impact on turkey prices is modest.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.