In a mid-August Barchart article on the animal protein sector of the commodities market, I cited three factors supporting animal protein prices since the 2020 lows, including inflation increasing production costs, reduced output during and after the pandemic, and the bullish price trend that encouraged buying. I concluded with the following:
Meat prices are heading lower as the offseason for demand approaches, but now could be the perfect time to begin planning a strategy for 2024, as seasonality is a powerful force in the animal protein arena.
