The price of frozen turkeys is in a monster bull market.
Bloomberg Chief Economist Michael McDonough just Tweeted the following chart showing the evolution of Turkey prices over the past two decades. Since mid-2006, the price of a 15 lb. bird is up 60%, to $US27.29.
McDonough also included the price of corn, which has been falling. Americans feed on corn, which should bring some relief to the cost of serving Thanksgiving dinner.
Turkeys also feed on corn. But the main driver of turkey prices lately has been booming overseas demand. Below is the list of countries the U.S. now ships turkeys to. You can see that many saw incredible growth in recent years.