CHICKEN TRENDS

Chicken Trends - May 3, 2024

Poultry market information is from the week of April 28, 2024.

This week, analysts reported that the markets for jumbo and medium boneless breast meat increased, while small boneless breasts remained unchanged. Analysts expect pricing to be higher for jumbo boneless breast meat through May. They also report that egg sets and placements were up compared to last year, with hatchability and bird health slightly improving.

Broiler-Type Eggs Set in the United States up 2%

According to the National Agricultural Statistics Service, hatcheries in the United States weekly program set 247 million eggs in incubators during the week ending April 27, 2024, up 2% from a year ago. Average hatchability for chicks hatched during the week in the United States was 79.1%. Average hatchability is calculated by dividing chicks hatched during the week by eggs set three weeks earlier.

Broiler-Type Chicks Placed in the United States Up 2%

According to the National Agricultural Statistics Service, broiler growers in the United States weekly program placed 190 million chicks for meat production during the week ending April 27, 2024, up 2% from a year ago. Cumulative placements for the weeks ending January 6 through April 27, 2024, for the United States were 3.19 billion. Cumulative placements were up slightly from the same period a year earlier.

Whole Chicken & Cut-Up Parts

Analysts report that small bird and larger whole bird overall demand increased this week, and that pricing has also increased slightly.

BONELESS, SKINLESS BREASTS & CHICKEN TENDERLOINS

Jumbo and medium boneless breast meat pricing increased this week, while small boneless breast meat remained unchanged, according to analysts. Spot loads of jumbo breast meat have been uncovered, but not heavily discounted, they reported. Demand by Further Processors and the Retail segment for all sizes of breast meat appears to have increased, they said. Analysts expect the jumbo boneless breast market to be flat to slightly higher through May. According to industry analysts, some processors are being challenged with bird health issues, labor shortages, high fuel costs and transportation issues.

According to analysts, small and jumbo tender pricing increased this week, primarily due to high demand across all segments. They expect these markets to be higher through July. Spot load offerings of jumbo and small fresh tenders have not been uncovered this week, analysts said.

WINGS

Pricing for small, medium and jumbo wings remained unchanged this week, according to analysts. Spot loads of jumbo fresh wings can be uncovered, although pricing is still strong, they reported. Analysts predict that due to medium bird processors taking their bird weights up to a jumbo size, the market will continue to see pressure in terms of consistent fresh medium wing availability. Demand from Further Processors for combo-packed fresh jumbo, medium and small wings remains steady, according to analysts. Very limited spot load offerings of jumbo-sized fresh wings have surfaced, and are commanding higher prices, they said.

BONELESS, SKINLESS THIGHS

Analysts report that the boneless, skinless thigh meat market remained unchanged this week. Spot load offerings of boneless thigh meat are minimal, according to analysts. They have forecasted the market to trend flat to upward through June.