Wells Fargo's chief ag economist: Seafood should expect a holiday sales boost as new COVID-19 lockdowns begin

It's a good time to be a seafood producer in the US food sector ahead of Thanksgiving, according to Michael Swanson, chief agricultural economist at US financial giant Wells Fargo.

Lower demand in the foodservice sector from pandemic-related closures has redirected a high volume of seafood into the retail grocery sector, resulting in sharp wholesale price declines.

That, paired with lockdown measures mandated for several states as COVID-19 begins a second wave in the United States, has many Americans looking to have unique, smaller meals this holiday season.