US egg sets fall 9 percent on-year

Broiler-type eggs set in commercial hatcheries in 19 selected US states fell 9 percent in the last week of January from the same week a year ago, according to USDA.  

Commercial hatcheries in the US government's 19-state programme set 199 million eggs in incubators during the week ended January 31, 2009.

The decline is the largest since the week of November 8, 2008, and seems well-timed as chicken demand appears to be weakening further, a JP Morgan analyst said.

Cuts of this magnitude may be necessary in order to maintain the supply and demand balance that has led to higher prices and better producer profits, said JP Morgan analyst Ken Goldman.

Broiler growers in the programme placed 167 million chicks for meat production in the latest week, down 5 percent on-year. Cumulative placements from December 28, 2008 through January 31, 2009 fell 6 percent on-year to 838 million.