·Things are still very rosy in the poultry market. With Memorial Day right around the corner, there is much optimism.
·All white meat is short in supply, from breast meat, to tenders and wings….all is in very heavy demand. The market has advanced in response to that demand.
·Dark meat has also been in the spotlight. Most dark meat demand has been in retail needs; mainly drums, thighs and hindquarters.
·Leg meat has been the one item that has been sluggish.
·Thigh meat volume has been good, but with leg meat sluggish, pricing on thigh meat seems to be staying put.
·Wings have stood out as the biggest demand item on a normally sluggish time of year, although breast meat and tenders seem to be following its seasonal trends, with potentially more upside to come.
·Steady as she goes………………would describe this week’s action. Not too hot and not too cold; just right (for now).
·There are positive indicators that are showing stronger forward trends.
·B/I breast have been going up daily- they are like wings were a few weeks ago, before they went nuts. B/I breast will eventually affect bnls breast.
·Leg meat has also been moving up, and that will help thigh meat. Thigh meat seems in much better shape, very tight inventories, which should move pricing up very soon. Trade levels have improved considerably.
·Breast meat is a little sluggish this week, but inventories are in no means in bad shape. The reduced egg and chick placement will not let the market sag too far. The breast meat pricing is a little less next week, but will probably only be temporary.
·Wings are still moving up! Not sure where resistance is? Maybe none if supply doesn’t improve.
·Next week is the national poultry show, getting my liver in shape this week for all the heavy hitter drinkers next week. Someone’s got to do it.
·Things are looking brighter for the poultry market. Demand has picked up in retail and food service.
·White meat and dark meat seem to be in better shape this week.
·Wings…wings…wings…wings…there are none available, and what’s there is hard to find. It should be like this for another few weeks and then should settle down some, but prices should hang at elevated levels for a while until inventory catches up.
·Overall tone is solid, and companies have been making money again. The bleeding has stopped at least for now.
·B/In breasts have now picked up momentum for retail; it might be the next item to fly.
·Tenders have hit resistance, but are maintaining.
News outlets across the country are raising panic with tales that the Super Bowl staple is facing a shortage, facing high prices, and facing just about any other problem they can pack into a frightening article.
NewsWest9.com says in the first paragraph that supply could "threaten to limit snack choices" in Texas, but in the next paragraph states:
So far, it appears as if West Texans will be able to fill up on hot wings for the Super Bowl.
And they later add:
NewsWest 9 also spoke with an executive at Wingstop who said the company had a deal already in place with Pilgrim's Pride before a lot of these cutbacks, so they don't anticipate any changes for the Super Bowl. Other local restaurants have reported moderate increases, but nothing as bad as the spike in prices in New York State.
In fact Wingstop issued a statement saying that they estimate selling more than 3.5 million chicken wings. "Wingstop is to Super Bowl what chocolates are to Valentine's Day," said James Flynn, Wingstop CEO. And if you are truly frightened that they won't have your order of wings, you can pre-order early here.
So what is going on in New York- the likely source of the countrywide wing panic? The news video at the top features Sam Musolino of Sammy's Pizza in Niagara Falls. While the WIBV.com report points out that Sam has enough wings, it is the prices that are a major problem, so he has called for a national boycott:
"Pass it on to everybody that if nobody could serve chicken wings for that day."
So what is the truth? Well, the National Chicken Council has a bone to pick with the media. Richard Lobb, director of communications for the National Chicken Council told the Arkansas Democrat Gazette:
Fears that chicken wing supplies will run out are unfounded. And blaming a shortage on Pilgrim's Pride's bankruptcy alone is a "wild exaggeration," he said. "Eat all you want. There are plenty more."
And regarding prices, the Council has this posted on their website:
By some accounts, prices are higher than a year ago. The U.S. Department of Agriculture cites an average retail price of $1.93 per pound for ready-to-cook chicken wings featured in grocery circulars, up from $1.52 a year ago. Prices always go up during the run-up to the football spectacular, but this year’s higher prices may be related to industry-wide production cutbacks due to high feed costs and general economic stress.
So grab your favorite dipping sauce and stop worrying about chicken wings- because if there is one thing we have seen in the food industry, it is that fear and speculations of doom and shortages will make prices rise higher than if we just let things be.
