Challenges for Chickens It’s not easy being in the chicken business these days. The chart below shows our estimated gross feeding margin for broiler companies since the beginning of 2019.
First, there’s been a glut of protein on the market. Second, exporting has been a challenge. Third, the domestic market is shifting away from what the industry has been building infrastructure for over the years – big bird deboning. Wholesale breast meat prices averaged $1.07/pound the first quarter of 2019; last week they were about $0.91/pound and have spent about half of 2020 so far under $0.90/lb. Weak prices early this year have been counter seasonal. Meanwhile, production is up. Low feed costs and the opening of the...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
