Here’s the Morning Business Report for June 16. Plus, home rentals jump the most in 15 years.
Rentals Poultry prices
The rent gains are across all price categories. Chicken-sandwich fever is leading to record high prices of poultry.
Single-family rents were up 5.3 percent year-over-year in April, rising from a 2.4 percent increase in April 2020, according to Corelogic. Rents for single-family homes just saw the largest gains in nearly 15 years.
The surge comes after several large fast-food restaurant chains recently launched fried-chicken sandwiches in a bid to match Popeyes’ 2019 viral success. Bloomberg noticed it and said chicken prices are up for eight straight months.
Futures prices for lumber ended Tuesday at one per thousand board feet, down 41 percent from the record of $1,711.20 reached in early May. Futures have declined 14 of the past 16 trading days. Prices of lumber dropped from record highs, spurred by the economic reopening and potentially pointed to an eventual return to normalcy. Lumber prices
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- MORNING BUSINESS REPORT: Rents Rise, Poultry Prices Rise, Wood Prices Fall | News
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