What's New ? - 2021

What's New ? - 2021

USA: Poultry prices soar to record amid U.S. Chicken-Sandwich wars

Source: Bloomberg 18 June, 2021

Chicken-sandwich fever means poultry is pacing U.S. food inflation in the meat case.
U.S. producer prices for processed poultry jumped to an all-time high in May, climbing 2.1% in the eighth straight monthly increase, U.S. government data showed. Gains in poultry outpaced the 0.8% increase in the broader producer price index. The surge comes after several large fast-food restaurant chains recently launched fried-chicken sandwiches in a bid to match Popeyes’ 2019 viral success. Sales have also surged with consumers preparing more meals at home during the pandemic. Meanwhile, poultry producers have struggled to keep up with the growing demand, with labor shortages at meat plants and severe winter storms that killed thousands of birds constricting chicken supplies. McDonald’s Corp., KFC and Burger King have all recently introduced new chicken sandwiches. At U.S. restaurants, orders for chicken entrees were up 4% for the year ending in April 2021, according to market researcher NPD Group. Beef orders were down 14% and pork was down 18%.