September 20, 2011
US chicken breast prices climb in August
While prices of most US chicken breast meat products climbed in August compared with July levels, the prices were still lower than year-earlier levels, reports the latest Livestock, Dairy and Poultry Outlook from the USDA's Economic Research Service.
Wholesale prices for boneless or skinless breast meat in the Northeast market averaged US$1.29 per pound. in August. Although up US$0.09 from the July price, it is US$0.36 (22%) lower than one year earlier. Prices for breasts with ribs and tenderloins have followed a similar pattern. Prices for leg-meat products are stronger than the previous year. Prices for leg quarters averaged US$0.50 per pound in August, up more than US$0.05 from the previous month and 23% higher than in August 2010. Prices for other leg-meat products have also had strong gains compared with the previous year.
Whole thighs and boneless or skinless thigh meat prices are both more than 30% than one year earlier. Lower broiler-meat production in fourth quarter 2011 would normally be expected to place upward pressure on most broiler product prices. However, with a weak economy and relatively high cold-storage levels, it may take some time before significant price increases are seen, especially for breast meat products, the report concluded.