China Broiler Weekly: Prices tumble amid plunging chicken consumption (week ended Feb 22, 2017)
An eFeedLink Exclusive
AA broiler prices broke new lows, plummeting a whopping 16% as markets tumbled nationwide. Farmers eagerly released inventories while the bird flu epidemic showed no signs of improving. With supplies in excess and consumers cutting chicken intake, slaughterhouses suppressed prices to levels unseen.
With farmers holding back purchases, chick prices plunged to extremely low levels of RMB0.20-0.80/bird.
Similarly, oversupply of China breed broiler dragged prices down prominently by over 11%.
Chick prices tumbled as well as the bird flu outbreak hampered inventory building.
Broiler supplies are expected to exceed demand by a lot as Chinese consumers cut chicken intake tremendously as the mortality rates of the bird flu disease are unusually high this year. Broiler markets will continue to remain weak in the coming weeks.
RMB=US$0.1455 (Feb 28)
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