Chicken Prices in Pernambuco, Brazil, Remain Depressed on Increased Chicken Production

Chicken wholesale prices in Pernambuco, Brazil, have traded without change throughout March but remain below February's and January's levels. Prices have mostly declined through 2023 on the back of increased domestic chicken production. While increased production remains a bearish factor for prices moving forward, there is a latent risk of avian flu which has swept other countries throughout the world, including several neighbors of Brazil. For now, Brazil is free of the disease but has been reported to be in high alert.