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CoBank's quarterly report projects US broiler production to grow 1% to 46.9 billion pounds in 2024. Boneless breast prices averaged $4.12 in May, down about 3% year on year.
Wholesale prices for key broiler items, including wings, have been firming, and pullet placements are up 1.2% so far in 2024.
Modest production growth combined with firming wholesale prices suggests balanced supply for US chicken. Lower feed costs continue to support processor margins.
thepoultrysite.comMelanie EppJul 16, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
