Poultry demand takes flight as red meat prices spike

Posted by on May 25, 2014 in Sounds, Visuals, Words | 0 comments

By Jacob Passy

Thanksgiving is over six months away. But that’s not stopping American consumers from breaking out the turkey – and chicken and eggs, to boot.

More people are flocking to poultry to fulfill their protein needs as the prices of beef and pork hit all-time highs. This wave of customers is adding to the high tide of demand that the poultry industry has experienced for years now.

The demand for chicken increased 8 percent year-over-year in March, according to USDA data cited by Steve Meyer, president of Paragon Economics and author of the Daily Livestock Report. This figure is expected to grow in April, as chicken prices continued to drop despite continued increases in beef and pork. And as Meyer sees it, we have only just seen the tip of the iceberg when it comes to growing demand for poultry.

“We’re going to have very higher prices for beef and pork for the foreseeable future,” Meyer said. “With these alternatives going up I think you’re going to see chicken have more featuring and have some real opportunities in the marketplace.”

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