CHICKEN TRENDS

Farmer's Report

Chicken Trends - January 27, 2023

Poultry market information is from the week of January 22, 2023.

This week, analysts reported that the jumbo breast meat market increased, while the medium and small breast meat markets were stable. Small bone-in and boneless products are still under supply pressure, as some processors have increased bird size, according to industry analysts. Analysts forecast price increases for all jumbo boneless meat in the near term. They also report that egg sets and placements continue to increase. Bird weights and headcounts have increased, according to industry analysts.

Broiler-Type Eggs Set in the United States Up Slightly

According to the National Agricultural Statistics Service, hatcheries in the United States weekly program set 239 million eggs in incubators during the week ending January 21, 2023, up slightly from a year ago. Average hatchability for chicks hatched during the week in the United States was 79.8%. 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 1 Percent

According to the National Agricultural Statistics Service, broiler growers in the United States weekly program placed 185 million chicks for meat production during the week ending January 21, 2023, up 1% from a year ago. Cumulative placements from the weeks ending January 8 through January 21, 2023 for the United States were 561 million. 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 demand has increased in the retail and Further Processing complex, sending pricing upward.

BONELESS, SKINLESS BREASTS & CHICKEN TENDERLOINS

The small and medium boneless breast markets remained unchanged this week, while the jumbo market increased, according to analysts. Spot loads of jumbo and medium breast meat have decreased substantially, analysts reported. 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 increase in the near term. According to industry analysts, most processors are being challenged with ongoing labor shortages, increasing feed costs, high fuel costs and transportation issues.

According to analysts, the select tender market remained unchanged this week, while the jumbo tender markets increased. Analysts expect these markets to move higher in the near term. Minimal spot load offerings of jumbo fresh tenders have been uncovered this week, according to analysts.

WINGS

Pricing for all sizes of wings increased this week, according to analysts. Jumbo wings appear to be well-supported, they said. Foodservice and Further Processors' demand appears to be strong. 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 fresh and frozen jumbo wings have receded, as Further Processors ramp up inventory, according to analysts.

BONELESS, SKINLESS THIGHS

Analysts report that the boneless, skinless thigh meat market increased this week. Spot load offerings of boneless thighs and boneless leg meat have been uncovered. Analysts have forecasted the market to trend flat to slightly upward in the short term.

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.