CHICKEN TRENDS

Chicken Trends - June 28, 2024

Poultry market information is from the week of June 23, 2024.

This week, analysts reported that the tender markets stabilized, while all wing markets and jumbo breast meat increased. Analysts expect pricing to be flat to potentially lower for jumbo boneless breast meat through July. They also report that egg sets and placements were up slightly compared to last year, with hatchability and bird health issues still a concern.

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 245 million eggs in incubators during the week ending June 22, 2024, up 2% from a year ago. Average hatchability for chicks hatched during the week in the United States was 79.2%. 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 SlightLy

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 June 22, 2024, up slightly from a year ago. Cumulative placements for the weeks ending January 6 through June 22, 2024, for the United States were 4.71 billion. Cumulative placements were up 1% from the same period a year earlier.

Whole Chicken & Cut-Up Parts

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

BONELESS, SKINLESS BREASTS & CHICKEN TENDERLOINS

Small and medium boneless breast meat pricing remained unchanged this week, while jumbo breast meat increased, according to analysts. Spot loads of jumbo breast meat have been uncovered, but pricing is not discounted, they reported. Demand by Further Processors and the Retail segment for all sizes of breast meat has increased, they said. Analysts expect the jumbo boneless breast market to be flat to lower through July. 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 stabilized this week. They expect these markets to potentially decline in 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 increased this week, according to analysts. Spot loads of jumbo fresh wings are minimal, and 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 the Retail segment and 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. Analysts forecast a slightly declining market in July.

BONELESS, SKINLESS THIGHS

Analysts report that boneless, skinless thigh meat pricing was 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 July.