CHICKEN TRENDS

Farmer's Report

Chicken Trends - SEPTEMBER 30, 2022

Poultry market information is from the week of September 25, 2022.

This week, analysts report that the jumbo breast meat market has made another downward move. Small bone-in and boneless products are still under pricing pressure, as analysts report higher cumulative placements over last year. Analysts forecast potential price decreases for jumbo breasts and jumbo tenders in the near term. Analysts also report that headcounts and weights have increased, as well as continued higher egg sets and chick placements. Labor continues to be an issue in the processing plants.

Broiler-Type Eggs Set in the United States UP 4%

Hatcheries in the United States weekly program set 243 million eggs in incubators during the week ending September 24, 2022, up 4% from a year ago. Average hatchability for chicks hatched during the week in the United States was 80.3%. 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 5%

Broiler growers in the United States weekly program placed 190 million chicks for meat production during the week ending September 24, 2022, up 5% from a year ago. Cumulative placements from the weeks ending January 8 through September 24, 2022, were 7.17 billion, up 1% compared to the same time last year.

Whole Chicken & Cut-Up Parts

Analysts report that small bird and larger whole bird demand is under pressure, with ample supply and declining prices.

BONELESS, SKINLESS BREASTS & CHICKEN TENDERLOINS

The small and jumbo boneless breast markets declined this week, according to analysts. Medium breast meat pricing also declined. Spot loads of jumbo breast meat can be uncovered, according to analysts. Demand for small breasts appears stable, with spot loads of frozen product showing up in the marketplace. Analysts expect the jumbo boneless breast markets to trend downward in the near term. According to industry analysts, most processors are being challenged with ongoing labor shortages, increasing feed costs, ingredient shortages, high fuel costs and transportation issues.

According to analysts, the select and jumbo tender markets declined sharply again this week. Analysts expect these markets to trend downward in the near term. Spot load offerings of jumbo fresh tenders have been uncovered this week, with heavy discounting in play, according to analysts. Urner Barry has reported that jumbo and small tenders had reached record-high prices and are now declining.

WINGS

Pricing for medium and jumbo wings is stable this week. Small wings are still in a downward trajectory, analysts reported. Foodservice demand appears to be steady. 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. Spot load offerings of jumbo wings have been uncovered at discounted pricing, and spot loads of frozen medium-cut wings have been shown in the market, according to analysts. They expect the jumbo markets to enter a steady pricing trend, with potential slight upward movement through November, as Further Processors assess their inventory levels for the football season.

BONELESS, SKINLESS THIGHS

Analysts report that the boneless, skinless thigh meat market declined this week. Spot load offerings of boneless thighs and boneless leg meat have been uncovered. Analysts have forecasted the market to trend flat to downward through December.

The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.