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Chicken Situation (Urner Barry)


Tone: Whole Lotta Love


As Monday morning’s canvass concludes, there is little doubt that a sincere level of demand has advanced in the face of a constricted supply status, and those with WOG and whole bird exposure are facing a challenge here at the week’s outset. Although seasonally receding production efforts, logistical complications and ongoing plant labor challenges are all still playing a role in the current trade environment, most of this morning’s market dialogue attempted to convey the renewed affection that deboning and retail buying channels had for this segment. Beyond the birds, other lines such boneless breasts and white meat-derived chunk and trim lines, also enjoy a refreshed call with seller’s successfully advancing their asked values.


As for the details, spot offerings of all sized WOGs prove challenging for buyers to get their hands on, and in the quantity and price that they desire. Today’s quotations advance upward in accordance with low volume premiums being paid, along with the willingness of prospective buyers to shell out a couple extra bucks should offerings materialize. Whole birds follow along a similar path as WOGs. Bone-in breasts and front halves wind down uneventfully with a steady, and possibly better rating as we await further market developments.


Negotiations of jumbo boneless breasts continue to be finalized at upward-moving price points. Spot availability is termed as barely adequate across most points of sale. Medium and select sized product lack event and close the morning with a steady undertone. Tenders are maintained at listed levels. Some marketers, especially those with retail QSR, and further processing exposure enjoy a livelier trade environment than those who rely on the spot market alone. Jumbo and small sized wings are easily uncovered and obtainable for a discount. Medium sized offerings are caught in the fray with supply-induced pressure noted. That said, tray pack demand remains consistent. Chunk and trim meats follow in the coattails of breast meat and struggle to keep up with the current call.


As for the back half of the bird, input surrounding legs is diverse. Some sellers have begun to take on a more optimistic sentiment in response to additional domestic and export buying inquiries while others continue to contend with fully adequate availability and not perceptible uptick in demand. Leg quarters, thighs and drumsticks are stable and somewhat sluggish. Thigh meat is easily uncovered with recent transactions being finalized at a slight discount. Additional offerings are easy. Leg meat is under pressure and termed as barely steady.


This situation has been brought to you by COMTELL. For more commentary and in-depth market information, subscribers should visit www.comtell.com


Par : Dylan Hughes (15/11/2021)

Source : COMTELL via Foodmarket Newsletter (Urner Barry)

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