Birdseeds Turning Bullish
PANAMA - Sep 18/20 - SNS -- Birdseed ingredient markets continued to strengthen during the past week, with dramatic price increases reported for U.S. origin white proso millet.
Grower bids in the United States jumped 20% on the week to close at U.S. 21 cents per pound. This puts them solidly in decile nine territory. That means prices have been higher less than 10% of the time.
The last bull market run on millet was in the 2012-13 marketing year, when prices paid to farmers averaged almost 38 cents per pound. They started that marketing year at 21 cents and reached a record high 52 cents in May and June of 2013.
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