- Food stocks are outperforming on the day as a combination of defensive positioning and attractive valuation draws in some buyers.
- Notable gainers include DAVIDsTea (DTEA +8.2%), Darling Ingredients (DAR +3.5%), Pilgrim's Pride (PPC +3.7%), Seneca Foods (SENEA +1.9%), SunOpta (STKL +2.9%), B&G Foods (BGS +2.8%), Calavo Growers (CVGW +3.1%), Fresh Del Monte (FDP +2.5%), Tyson Foods (TSN +1.7%), Cal-Maine Foods (CALM +2.5%) and Whole Earth Brands (FREE +1.8%).
- The drop in Treasury yields could also be helping to lift sentiment in the food sector. Stocks with a 3% or higher dividend yield include B&G Foods, Kraft Heinz (KHC +0.9%), Kellogg (K +0.0%), Flower Foods (FLO +0.5%), General Mills (GIS +0.1%) and ConAgra Brands (CAG +0.1%).
- Read Seeking Alpha Marketplace author Fred Piard's breakdown on the consumer staples sector.