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US chicken prices have reached record levels as consumers shift from beef, which is becoming scarcer. USDA data show per-capita chicken consumption is expected to exceed 100 pounds this year for the first time.
Tyson and Pilgrim's Pride stand to benefit from higher prices, while a poultry profitability index hit its highest level in over a year on lower corn costs.
Tight beef supply is pushing demand toward chicken, supporting broiler prices, while cheaper corn improves producer margins and encourages output. For feed buyers, lower corn costs and steady poultry demand point to sustained demand for poultry feed ingredients.
reuters.comTom PolansekOct 5, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
