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Higher chicken prices supportive of beef and pork prices

A livestock market analyst says there have been some notable changes in red meat and poultry production and it’s been good for beef and pork producers.

University of Missouri’s Scott Brown says beef and pork prices can often be pulled down by lesser priced products like poultry, but that isn’t the case right now.  “When we look at chicken breast prices – we’re at the highest level we’ve seen in two years,” he says.  “If you look at chicken wings – at over $2 per pound is the highest we’ve really seen since 2015.”

He tells Brownfield chicken represents almost 40 percent of US red meat and poultry production – and isn’t growing.  “Just as we’ve seen lower cattle weights – we’ve seen lower chicken weights,” he says.  “We’re almost – current to this year – showing no growth in chicken production.”

Brown says meat production growth has typically been led by chicken.  But, as he looks at his three-year projections, he says the trend is changing.  “We’re being led by beef for a change instead of chicken in terms of growth,” he says.  “Even chicken production growth as we look at 2016-2016 is less than what we’re seeing on the pork side as well.”