USA: Lower wing prices coming in March

Published 2023년 3월 14일

Tridge summary

Chicken prices are falling after a period of market volatility and supply shortages during the COVID-19 pandemic, providing a boost for foodservice partners and creating a marketing opportunity for grocers and restaurant chains. The decrease in wholesale prices for wings and breast meat is expected to make chicken an attractive inflation-fighting protein for consumers, especially as the 2023 grilling season approaches and beef production hits its lowest level since 2017. However, chicken producers are facing higher feed costs, which could impact profitability.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The report explained that falling prices are welcome news for foodservice partners after market volatility and supply shortages during COVID-19. The news also comes as restaurants prepare for more customers to show up for the NCAA basketball tournament starting this week. Lower wholesale prices for wings and breast meat are creating a strong opportunity for grocers and restaurant chains to feature chicken as an inflation-busting protein for consumers, according to CoBank’s Knowledge Exchange. Grocery stores are also expected to leverage the lower prices to promote chicken as they prepare for the 2023 grilling season, especially with US beef production trending toward its lowest level since 2017. “With wholesale prices for boneless breast meat trending significantly lower than last year, it would be surprising if food service and retail outlets alike didn’t take note and plan their summer meat case features accordingly,” said Brian Earnest, lead animal protein economist for CoBank. ...

Source: Meat+Poultry