CHICKEN TRENDS

Chicken Trends - September 29, 2023

Poultry market information is from the week of September 25, 2023.

This week, analysts reported that the markets for jumbo and medium breast meat decreased, while small boneless breast meat remained unchanged. Small bone-in and boneless products are still under supply pressure, as some processors have increased bird size, according to industry analysts. They expect pricing to flatten out or decline for jumbo boneless breast meat through the last quarter of the year. They also report that egg sets and placements have declined, and that bird weights are recovering, as the heat in the South has subsided. Hatchability continues to be a challenge, according to analysts.

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

According to the National Agricultural Statistics Service, hatcheries in the United States weekly program set 233 million eggs in incubators during the week ending September 23, 2023, down 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 Down 2%

According to the National Agricultural Statistics Service, broiler growers in the United States weekly program placed 184 million chicks for meat production during the week ending September 23, 2023, down 2% from a year ago. Cumulative placements for the weeks ending January 7 through September 23, 2023, for the United States were 7.12 billion. Cumulative placements were down 1% from the same period a year earlier.

Whole Chicken & Cut-Up Parts

Analysts report that small bird and larger whole bird demand has decreased this week in the retail and Further Processing complex, and that pricing has decreased slightly.

BONELESS, SKINLESS BREASTS & CHICKEN TENDERLOINS

The jumbo boneless breast markets declined this week, according to analysts. Spot loads of jumbo breast meat have been uncovered at competitive pricing, they reported. Demand for small breasts appears stable, they said, with spot loads of frozen product showing up in the marketplace. Analysts expect the jumbo boneless breast markets to decrease through October. According to industry analysts, most processors are being challenged with ongoing hatchability issues, labor shortages, increasing feed costs, high fuel costs and transportation issues.

According to analysts, the jumbo tender market declined this week, while the small tender market was stable. They expect these markets to potentially move lower in the near term, as demand begins to flatten out. Minimal spot load offerings of jumbo fresh tenders have been uncovered this week, according analysts said.

WINGS

Pricing for small, medium and jumbo wings has increased this week, according to analysts. Spot loads of all sizes of fresh wings have been difficult to uncover, 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 and small cut wings has increased, according to analysts. Spot load offerings of all sizes of fresh and frozen wings have been minimal and, when uncovered, the pricing has substantially increased, 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 have not surfaced, according to analysts. They have forecasted the market to trend flat to potentially upward in the short term.