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Sanderson Farms reported that boneless chicken-breast prices fell 26 percent and jumbo wing prices fell 30 percent in the three months ending Oct. 31 versus a year earlier.
Overall poultry prices were 9.2 percent lower in fiscal 2018, even as the company sold a record 4.44 billion pounds. Retailers promoted premium red-meat items, and competing pork and beef supplies have weighed on chicken demand.
Heavy meat supplies and weak chicken demand point to continued downward pressure on broiler prices, which lowers the cost of poultry as an alternative protein for buyers.
perishablenews.comLydia Mulvany, BloombergDec 27, 2018Not 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.
