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Chicken & Turkey Situation (Urner Barry)

Chicken Situation

Tone: Hem and Haw

If there was a common theme that emerged throughout this morning’s market dialogue, it was the indecisive and unnerved demeanor of buyers and sellers alike. Starting with the former, it would be an understatement to say that players in need of product are not particularly thrilled over the superlative seasonal values associated with key lines. With spot visibility remaining thinly distributed across most points of sale, after giving it some thought, there is little recourse for buyers in need but to present northerly facing bids in order to get product loaded onto the trailer. On the opposite side of the negotiation table are processors who continue to contend with a multitude of supply-related complications ranging from disease to inclement weather; all of which muddy the waters of forward-facing production expectations.

In terms of the market itself, whole chickens and WOGs remain situated at supportive price points with some sellers continuing to test higher asked prices in response to barely adequate supplies. With that being said, price-induced hesitancy has forced some buyers to either sit on their hands, or take on only their most immediate requirements. Underlying demand for bone-in breasts and fronts is consistent against a strained supply scenario. Higher bids are slow to coax additional volumes onto the spot market.

The undertone surrounding boneless breasts remains full-steady. Today’s canvass uncovered a combination of higher bids and low-volume negotiations being transacted at an overage. Tenders are in a similar boat as boneless breasts. Sellers, especially those with exposure to further processing, retail, and foodservice channels successfully notch up their asked prices. Dialogue related to jumbo wings is somewhat disjointed with some sellers noting an uptick in traditional demand patterns, while other players struggle to see the marketing potential at current price points. Overall, bulk of sale comes in at a discount and our quotations adjust downward accordingly. Medium and small-sized wings lack event and retain a mostly balanced rating. Chunk and trim meats prove challenging to unearth with consistently.

On the back half of the bird, thighs and thigh meat lead the charge upward, while other lines such as legs, leg quarters and drumstick are unchanged but continue to be viewed through rose-colored lenses. Demand for leg meat is intermittent against an adequate supply backdrop. Seasonal needs centered around MSC continue to percolate and find premium values are required to consummate a deal.

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Turkey Situation

Tone: Winds of Change

Today’s tone choice can be taken both literally and figuratively as the rapid weather patterns currently in play throughout the country no doubt have had an effect on HPAI outbreaks in the Midwest. Metaphorically speaking, the turkey complex has been no stranger to adjustments, as cutbacks in hatchery figures that began years ago are still having a say in the market currently. Nowadays, those aforementioned shifts in philosophy, coupled with potential supply complications down the road due to disease, will no doubt have a say in the direction of the industry for some time.

As for the market itself, transactional data surrounding whole turkeys remains light as the majority of processors continue to take a “wait and see” approach to negotiations. That being said, a firm undertone for the line remains solidly in place. The same can be said for consumer and institutional-sized breasts as minimally offered supply is held with an extraordinarily strong grip.

Turning to parts, the market remains somewhat multi-tiered as sellers that remain unaffected by export bans continue to enjoy consistent demand and steady or advancing pricing. This notwithstanding, a growing number of sellers continue to be burdened by an excess supply of tom frozen drums, necks, tails, and gizzards as the inability to export looms large. Limited market data for fresh tom drums and tom whole wings are reported at steady figures.

As has been the case for some time, the mindset of most sellers in the raw materials segment continues to be a confident one. Buyers in both the export and domestic arena remain active in their pursuit and willingly shell out premium-level bids whenever spot loads are unearthed. This is particularly true for all varieties of breast meat, as well as tenderloins. Thigh meat is said to be gaining strength as well and is sought after with consistency. Sales at up money crossed our desk for fresh and frozen MST this morning which further bolsters the full steady undertone in place.

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

Par : Dylan Hughes (Chicken Situation) and Matt Busardo (Turkey Situation)

Source : Foodmarket Newsletter (Urner Barry) (06/04/2022)

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