Chicken Wing Prices Reach Record Highs
UB Consulting Takes a Fundamental Look at What’s Behind the Surge
Chicken wing prices have been at the forefront of the conversation for several weeks now. Why? Because wholesale spot market prices have reached record highs and are behaving in a non-seasonal manner. Historical price seasonality suggests strong buying commitments are made around the end of Q3 into the beginning of Q4 when prices reach their seasonal peak. These purchases are made in the middle of football season and get another seasonal bump into January prior to the Superbowl and March Madness. Yet, as we all know, 2020 has been a year in which historical behavior has been notably in disarray—and 2021 has begun in a similar manner with prices well over their seasonal averages.
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