So the feed markets have generally fallen rather sharply as well during the last several months...
A combination of factors has pushed wholesale chicken markets upward including stable retail prices, strong consumption and lackluster production. The latter is expected to improve in the coming months as shown with the chart at top. Broiler chick placements are now tracking near 2 percent above prior year which suggest output may do the same in the fall. However, important to remember that versus two years ago, broiler chick placements are relatively flat. And chicken output in Q4 is only projected by the USDA to be ~1 percent better than 2022.
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