Chicken wing prices are expected to drop between 10 and 15% in 2022, according to the 21-22 Protein Inflation Outlook report, released by Cleveland Research Company.
According to the report, weaker wing prices are already being seen due to softer demand at the foodservice level, but the authors of the report are expecting them to drop even more in 2022 as fewer business establishments are featuring them on their menus.
“We have heard that independent restaurants and bars removing wings from menus and eliminating promotional pricing is the largest driver of softer wing demand over the last few weeks. We have also seen some shifts away from wing featuring activity from larger restaurant chains,” the report stated.
The report also included the prediction that independent restaurants “may be slow to re-introduce wings to their menus.”
Chicken sandwich promotion to ease
The report also indicated that there could be a reduction in the price of chicken breast meat in the later quarters of 2022, as the chicken sandwich wars could become less intense.
“We are hearing that although chicken sandwiches remain popular in foodservice, promotion activity is expected to be much less aggressive in 2022 compared to 2021.
Other observations in report
Cleveland Research Company also examined other industry issues, such as hatchability and the current labor situation.
Declines in hatchability earlier in 2021 were observed, with some of that decline being at least partially due to Hurricane Ida. While hatchability improvements may be limited until the middle of 2022, the situation is also not expected to worsen in the short-term.
Labor issues are apt to remain a challenge to the poultry industry. “We have heard of some small improvements in application rates and attendance at plants, but retention and rising wage costs continue to be an issue,” the report stated.
Téléchargez le document ci-dessous pour consulter le rapport 21-22 Protein Inflation Outlook de Cleveland Research Company.
Par : Roy Graber (01/11/2021)
Source : wattagnet.com
Photo : Alena Shekhovtcova (pexels.com)