US broiler production is projected to grow slightly

Published 2024년 7월 16일

Tridge summary

The US broiler industry is providing consumer-friendly prices and innovative offerings, with the price for boneless chicken breast averaging $4.12 in May, down 3% year-over-year and 13% from 2022 highs. Inventory levels for key items are not overly burdensome, with cold storage levels for breast meat at their lowest since the end of 2022. Pullet placements have increased in 2024, with integrated processors adding to flocks, despite disease and genetic issues limiting productivity and livability. The USDA forecasts a modest 1% year-over-year growth in broiler meat production.

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

Original content

For quite some time, chicken has been a default choice as consumers seek out nutrition, convenience and value. The US broiler industry is hitting those marks in stride with consumer-friendly prices and new innovative offerings ready for quick-and- easy appliances like air fryers, according to the most recent quarterly report from CoBank. The latest BLS data showed the price for boneless chicken breast averaged $4.12 during May, down about 3% YoY, and down 13% from the highs in 2022. Featuring activity for chicken is showing the consumer even more value. Value pack fresh boneless breast feature activity is back to pre-pandemic (2019) levels. Prices are still up about 21% from 2019, but actually 5% lower than a decade ago. Dampened feed costs for chicken should continue to drive consumer savings, but that will be for the market to figure out, and the transition will take time. For now, inventory levels on key items do not appear to be overly burdensome. Cold storage levels for ...

Source: Thepoultrysite