Chicken wing prices sink to four-year low, but not for long

The price of chicken wings has tumbled to levels unseen in the past four years, but the downturn is unlikely to last much longer as the fall sports season officially launches.

The average wholesale price for a pound of chicken wings was $1.68 in July and was trending lower in August, according to USDA’s latest price index for whole chickens and parts. The decline from an average price of $3.17 per pound in August one year ago indicates that at least chicken wings were nearly immune to record-breaking inflation, along with supply chain and labor shortage issues, that have affected overall food prices throughout 2022. The average price for a pound of wings in June 2022 was $1.81, representing the lowest level since June 2020, USDA’s Economic Research Service reported.

However, the rules of supply and demand are expected to affect wholesale wing prices soon as the 2022 football season begins and consumers and the still-recovering foodservice industry resume hosting game-watching parties featuring wings on the menu. Winter sports, which also spark indoor chicken wing consumption, are expected to drive prices higher over the next six months, according to several industry analysts.

Par: Chris Scott (18/08/2022)