US chicken demands is forecasted to rise by 2% in the second quarter, due to high prices for beef and pork, as well as "an ongoing positive global market situation and the potential for declining feed costs," according to Rabobank.

 

"Of key importance will be for the industry to keep supply growth in balance with market growth in the next quarter(s)," Rabobank said, noting as a positive sign that U.S. inventories are 13% below last year's levels and Brazil is reducing supply as it compensates for lower-than-expected export growth.

High expectations for the second quarter overall follow on positive exports of US poultry in the first three months. Poultry exports rose year-on-year by 14% in volume to 984,947 metric tonnes and 27% in value to US$1.302 billion, both new records, according to USDA's Foreign Agricultural Service.

In March alone, U.S poultry exports rose 8% on-year to 339,220 metric tonnes and leaped 21.8% in value to US$343.2 million, both records for the month, the agency reported.

 

First-quarter poultry exports consisted of broiler meat (787,722 tonnes, up 14%), chicken paws (101,544 tonnes, up 29%) and Turkey exports (82,053 tonnes, up 13%.