Latest figures confirm US broiler processors' production cuts
US broiler chicken slaughter over the past seven weeks has declined
by an average of 3.3% compared to the same time last year, confirming the
planned production cuts announced by major processors several months
Chicken processors (including Tyson Foods,
Pilgrim's Pride and Gold Kist) announced this spring that they would reduce
production during the summer months because of low prices and high storage stock
levels last winter and early spring.
The latest monthly cold storage
report, for data at the end of May, showed 774.827 million pounds of chicken in
the nation's warehouses.
Since the end of May, the USDA's chicken slaughter data show that weekly totals have
varied from 0.5% to nearly 6% below the levels recorded a year
Wholesale chicken prices have rebounded recently, with the USDA
quoting boneless/skinless chicken breasts at $1.35 to $1.40 per pound, compared
to $1.00 to $1.05 on May 1. Leg-quarter prices on Monday were 38 to 39 cents,
nearly double what they were on May 1 when they were quoted at 20 to 21 cents.
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