Chicken & Turkey Situation (Urner Barry)



COMTELL: Chicken Situation


With uncertainty surrounding the COVID-19 pandemic, disruptions to the normal supply and demand balance are inevitable. Tracking market fluctuations and impacts from this situation is more crucial than ever. That's why we will be sharing some of Urner Barry's exclusive market intel right here on Foodmarket. Take a look at this situation from the commodity protein space:


Tone: Now You See It, Now You Don’t


The market is proving to be irregular in its supply side standing. Offerings which were visible hours before are often absorbed by the time buyers in need knock. This is most relevant to today’s tone if focused on jumbo boneless breast meat. Most buyers and sellers start the week reasonably well balanced. A handful of processors, however, are starting the week with more production than what they would prefer, and that’s lent an unsettled nature to the morning’s haggling.


In general, whole chickens and WOGs continue to enjoy a steady market environment. Those who might have a situation where logistical complications hinder flow, especially to the west, result in a little more willingness to sway on asked prices. Bone-in breasts and front halves lack event and are unchanged.


Elsewhere, jumbo boneless breasts remain situated in about the same shape as where they left off at Friday’s close. Today’s canvass uncovers low to moderate trade volume which supports an about steady rating pending additional market developments. Like with chickens or wogs, there are points of sale openly making discounted offerings, which at this point don’t constitute a rule. Buyers are testing current availability. Medium and select sized offerings are well-positioned at listed levels. Tenders are in a more well cleared position than jumbo boneless breasts. Sellers with foodservice and further processing exposure enjoy a livelier market environment than those who attempt to navigate the somewhat flat spot market alone. That is accounting for differences in posturing. Prospective buyers of jumbo whole and cut wings continue to find themselves with plenty of options to choose from and successfully test slightly lower bids. Medium and small sized offerings, on the other hand, are well-accounted for and held by sellers with a reasonably confident grasp given their historic seasonal tendency and currently snug supply status.


As for the back half of the bird, most indications continue to underscore the uneventful standing of legs, thighs, and drumsticks. Fresh leg quarters are maintained, albeit nothing to write home about. Thigh meat availability is termed as fully adequate which gives way to discounted sales. Leg meat turns up here and there as well, however today’s input fell to the thin end of the spectrum. Fresh and especially frozen MSC continues to trek along a seasonal path and winds down the morning with a barely steady rating. Like other items, isolated supply-side vocalism results in deeper discounting when compared to most reported trade.


COMTELL: Turkey Situation


With uncertainty surrounding the COVID-19 pandemic, disruptions to the normal supply and demand balance are inevitable. Tracking market fluctuations and impacts from this situation is more crucial than ever. That's why we will be sharing some of Urner Barry's exclusive market intel right here on Foodmarket. Take a look at this situation from the commodity protein space:


Tone: Mother Hubbard


Much like the old nursery rhyme we all know and love, buyers in the turkey market these days feel a lot like the poor old dog who went without a bone. Actively pursued lines, such as whole-body hens and most raw materials, remain few and far between which forces buyers to continuously up the ante in hopes it stimulates more offerings to be shown. But, in more cases than not, players are left empty-handed and searching for more.


Whole-body toms and hens remain stout. As has been the case for some time, hens and their consumer breast counterparts are in most cases unavailable regardless of the bid amount. Toms are somewhat easier to find, but that does little to the current full market or better ask prices. Institutional-sized breast demand remains seasonal. The line is rated steady as we make our way towards the holiday season.


The parts complex remains mostly well cleared with frozen tom drums, two joints, and necks all seeing the most robust demand at higher price points. Tom two joints, in particular, are commanding sharply higher ask prices for limited volumes in the domestic arena. The balance of parts is mostly uneventful and rated at least steady.


Turning attention towards the raw materials segment, purchases of fresh tom breast meat are recorded at upward trending price points. The same can be said for fresh and frozen breeder meat. Tenders, scapula, and breast trim all have premium bids associated with them, and an occasional up money transaction, but finding available loads remain the biggest stumbling point for buyers. Thigh meat continues to move with consistency at steady levels, despite bone-in thigh availability. MST demand continues to narrow some given the time of year, but ask prices have yet to degrade much.


Sources :

Chicken Situation: Dylan Hughes - Urner Barry (18/10/2021)

Turkey Situation: Matt Busardo - Urner Barry (18/10/2021)