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CEPEA reports Brazilian chicken prices fell sharply in late May 2023 on weaker demand, with frozen whole chicken down 1.1% month on month in São Paulo. US chicken consumption in 2023 is on track to exceed 2022, and Tyson projects about 3% US production growth this year.
Thai broiler prices were roughly flat in mid-May.
Weaker Brazilian domestic demand and rising US output growth point to softer chicken prices, which slightly reduces the appeal of chicken relative to pricier beef.
tridge.comVictor LangatJun 6, 2023Not 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.
