Chicken prices at U.S. grocery stores have hit record highs and should stay elevated as Tyson Foods and other companies dial back poultry production to boost margins while inflation-weary shoppers buy chicken instead of beef and pork.
Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim’s Pride (PPC.O), but will pinch consumers’ pockets as they try to save money by turning away from higher-end proteins. One index shows chicken producer profit margins at their highest in a year.
U.S. consumption of chicken is expected to exceed 100 pounds per person this year for the first time ever, data from the U.S. Department of Agriculture shows.
Beef consumption is forecast to drop to its lowest since 2018, as prices climb due to dwindling cattle supplies. Meanwhile, consumer spending cuts have knocked pork consumption to the lowest since 2015.
Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic.
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until bean manufacturers ‘dial back production’ like the chicken people above. this whole thing is fucked, its happening here in australia too, corps simply do not give a fuck and are hitting the cheaper foods with the biggest price rises
I’m not even a vegetarian, but most of America is really sleeping on tofu. It’s delicious, versatile and affordable. I love cooking with it.
There are multiple meals I genuinely prefer tofu to the original protein.
I eat plenty of tofu and would still rather have most anything else.
Being vegan during the COVID shortages was a breeze. Especially in my area of Texas (you don’t find many vegans there, to say the least).
“My” shelves were always stocked.
Depends. You do a lot better price-wise with dry beans.
If you consider drained weight, canned beans are usually about $1 for a 15oz can in my area, which yields about half a pound of drained beans. So, $2/lb
Chicken is anywhere from $1 to $8/lb but I’ve been averaging about $2/lb. It’s our main protein source and I watch for sales and stock up.