ANALYSIS: Upward-Trending Turkey
This year the turkey meat complex hasn't experienced much activity, until fairly recently. From January to the end of April, tom breast meat quotations held at $2.60/lb. delivered, when the 5-year average for this period ranged anywhere from $3.57 to $2.59. Starting the week of April 29, prices started to decrease until they reached $2.20 the week of May 20. Since, prices have steadily trended sideways, contrary to the seasonal norm which indicates an upward trend from the end of April through mid-September...
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