Chicken oversupply depresses wholesale prices, squeezing poultry company profits

Poultry companies are producing more chicken than consumers can absorb, pushing down wholesale prices and pressuring profits for suppliers including Tyson Foods, Pilgrim’s Pride and Wayne-Sanderson Farms. Producers increased offerings of boneless chicken breasts, wings and thighs over the past year because Americans were expected to move away from pricier steaks and burgers in favor of cheaper chicken sandwiches and tenders. The imbalance could bring some inflation relief for shoppers and restaurants trying to reduce protein costs.

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