Broiler fundamentals continue to be favorable largely due to tight beef supplies and a more favorable value proposition versus the rest of the beef and pork markets. Prices have continued their gains since last summer, and with below historical average feed prices, processing margins have expanded. Despite this strength, broiler value proposition is still positioned well in the market as red meat prices remain historically high.  This should support demand for broiler meat moving forward.  

There has been a slowdown in retail demand in April, likely tied to more challenging retail economics. The price spread has narrowed between retail and wholesale prices. Primarily this can limit promotional activity, however, limited prot...