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Shorting chickens becomes hot trade in stock market

2014-11-30 13:54:20| Food - Topix.net

With no futures market to speculate on chicken-price movements, they're turning to the equity market, borrowing record amounts of shares of two U.S. poultry producers that they in turn sell in anticipation of declines. The percentage of outstanding shares of Greeley-based Pilgrim's Pride Corp., the second-biggest U.S. chicken producer, that were sold short by investors has soared more than sixfold since Sept.

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