US poultry prices remain subdued

The most significant increase was in beef and veal prices, which were up 2.8% from the previous month. This was the largest month to month increase since November 2003. Beef prices are currently up 1.3% against on-year, ending a significant deflationary period for beef prices. Consumers also paid more for pork in April, with the overall pork price index up 1.1% from the previous month but still just 0.2% higher than last year.

While broiler prices are on the rise, wholesale poultry prices increases have not been as significant as in beef and pork. This could be in part due to the larger than expected increase in broiler supplies, offsetting the improvement in domestic demand. It is also a likely consequence of the prolonged closure of some key export markets. Going into the summer grilling season, consumers are currently facing notably higher prices for beef and pork while chicken continues to present good value to retailers.