2024 is starting off to be a stronger year for broilers, and gaining momentum as the year progresses. Production through Q1 is 99 percent of last year in pounds (15.130 billion) and head slaughtered (2.323 million). But with softening feed prices and increased parts prices, margins are positive and at their highest since the first half of 2022.
Boneless skinless breast meat prices reached $1.74/pound last week, up from $1.07/pound at the beginning of the year. Interestingly, wing prices are up to $2.30/pound, after starting the year at $1.64/pound. The seasonal demand for wings spans from New Years through February’s Super Bowl, and into the “March Madness” of the NCAA college basketball tournament but has k...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
