USA: Broiler market review for week 3 from January 22, 2024

 Over the week, the cost of broilers fell by 0.6%, while sales volume decreased by 328 thousand pounds. Regionally, price declines were recorded everywhere except for the central regions, where prices remained relatively stable. 

Average prices for chicken cutting showed a positive adjustment against the backdrop of rising prices for all items.  

Global chicken MEAT production in 2024 is expected to reach 103.3 million tons. The forecast for lower production in the US is mainly offset by the forecast for growth in the EU and UK . Production forecasts for Brazil and CHINA remain unchanged.

The forecast for global chicken meat exports in 2024 was revised down 1 percent from the October forecast to 13.9 million tons, as lower shipments to Brazil and the United States were not offset by modest increases in shipments from other leading exporters. Weaker-than-expected demand from Saudi Arabia, SOUTH KOREA and Japan will primarily impact Brazil, the world's leading exporter. Despite a downward revision to Brazil's EXPORT forecast, shipments from the country are still expected to account for a growing share of global trade. The forecast for US exports has been revised downward due to weaker demand in Cuba and Angola caused by macroeconomic problems.

Dynamics of prices and sales volumes of broilers

Weighted average price for broilers by region

Region

Weighted average price, cents/pound

Sales (thousand pounds)

Week 2

Week 3

Weekly growth,%

Week 2

Week 3

Weekly growth,%

Oriental

128.29

127.62

-0.5%

4,854

4,558

-6.1%

Central

120.18

120.33

0.1%

3 182

3 340

5.0%

West

141.16

140.11

-0.7%

3,080

2,890

-6.2%

Dynamics of prices for chicken cutting

Weekly reviews are available free of charge as part of a subscription to monthly analytics of Russian meat markets.