TSN - It's About Chicken Feed: Investing In The Poultry Industry

• COVID-19 driven food inflation is here and some sectors of agriculture will do better than others.
• Meat price inflation has been driven by a number of factors, including processing plant shutdowns and higher animal feed costs - especially higher corn prices.
• Poultry wholesale prices have shown a better response to increasing corn costs than beef or pork in terms of maintaining and even increasing margins.
• The poultry industry is mostly privately owned (currently 13 of the top 20 companies), but there are still opportunities to invest in public companies.
• Tyson Foods and Industrias Bachoco are worth an investment look.

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