The broiler sector has been “right-sizing” since Q3 after months of margin pressures reducing placement of broiler chicks.
That, along with lower feed costs, helped bring some profitability back into processing margins in September and October. Improved dark meat cuts have helped relieve pressure on boneless/skinless breast meat prices. However, this month margins are moving back toward zero. With lower feed costs, average broiler weights have increased this year. From January through October, the total slaughter of young chickens has remained relatively steady compared to last year, up 0.4 percent, but in liveweight pounds slaughter is up 1 percent as the average weight has been 6.53 pounds compared to 6.47 pounds last...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
