From a fundamental perspective, there is nothing new since the last update.  From the trading data we can share the following:

  • Occasionally, there is light selling by Smart Money.
  • Corn prices continue to be low.  Corn prices are important because they are the primary feed for chickens.
  • Short interest has fallen by about 30% and now stands at 4.8% of the float.  This reduces but does not eliminate the probability of another short squeeze.

Our Speculation

Our speculation is that TSN is itching to do another acquisition similar to HSH.