Chicken prices at U.S. grocery stores have hit record highs and should stay elevated as Tyson Foods and other companies dial back poultry production to boost margins while inflation-weary shoppers buy chicken instead of beef and pork.
Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim’s Pride (PPC.O), but will pinch consumers’ pockets as they try to save money by turning away from higher-end proteins. One index shows chicken producer profit margins at their highest in a year.
U.S. consumption of chicken is expected to exceed 100 pounds per person this year for the first time ever, data from the U.S. Department of Agriculture shows.
Beef consumption is forecast to drop to its lowest since 2018, as prices climb due to dwindling cattle supplies. Meanwhile, consumer spending cuts have knocked pork consumption to the lowest since 2015.
Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic.
How long do I have, doc?
The body may continue to thrive for a very long time, but the brain does appear to be a total loss.
lol. Of all the times I’ve asked that in response to brain dead comments like “people need meat” this is the funniest.
Never have gotten any actual reply showing any evidence of the original claim though. :(
“Need” is a matter of perspective. You don’t “need” movies, video games, books, or friends, but let’s see you give up any sort of random thing because some rando says there are no studies that proves you “need” it lmao. You could probably continue to survive on half the calories you consume each day, so why don’t you? You’re occupied double the food-based carbon footprint by choice.