POULTRY Poultry Market Outlook - May
Discover the latest insights with our Poultry Market Outlook this month!
Stay ahead of the curve with up-to-date information on global poultry protein market prices.
Dive into our expert analysis and discover the driving forces behind the industry’s evolution.
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FARM INPUTS PRICES – WORLDWIDE
In May, geopolitical tensions receded in the background. With the start of the harvest in the Northern Hemisphere only a few weeks away, market participants are now focusing primarily on crop conditions and production prospects in the main producing and exporting countries.
Corn
- On the European market, corn prices also increased, reaching $255.4/t ($249.3/t in April). Despite the decline in area (-4.8%), European production is expected to remain close to the 2025 level.
- In Brazil, the progress of the harvest is weighing on prices. Brazilian corn fell by $8.2/t to $211.0/t, a level similar to that seen at the same time in 2025
- US corn prices rose by $7.9/t in May following the USDA’s first 2026/27 outlook. Corn area is projected to decline by 4.2% year-on-year, reducing production by 26.1 Mt, though output would remain above the five-year average.
- In China, prices remained relatively stable, in a context where production is expected to increase by 6 Mt. Corn traded at $366.1/t in May, compared with $367.2/t in April.
Soya and Soybean meal
- Unsurprisingly, prices on the European market closely followed the US market (+$5.8/t over one month).
- Geopolitics and international trade remained the main drivers of price movements during the first half of 2026.
- In Brazil too, prices continued to move upwards, approaching $400.0/t, at $395.6/t in May. As in the United States, prices were supported by firm vegetable oil markets and the strong supply in the biofuels sector.
- US soybean meal prices continued to rise despite expectations of record harvests. Firm vegetable oil prices, supported by geopolitical tensions, kept the soy complex strong. In Chicago, soybean meal reached $340.3/t, up from $333.3/t in April.
- China was the only market where soybean meal prices fell in May, dropping from $495.5/t to $480.7/t while remaining near last year’s level. Soybean imports are projected to reach a record 114.0 Mt in 2026, potentially boosting the US share of the market.*
ENERGY
BROILER CHICKEN PRICE OVERVIEW – GLOBAL
Despite ongoing Middle East tensions and volatility in agricultural and energy markets, the global poultry sector remains resilient with a generally positive outlook. Brazil has successfully redirected exports from Middle Eastern markets to other destinations, sustaining export growth. In Europe, market recovery is driving up live bird prices, while China has regained a fragile balance through an export-focused strategy.
OVERVIEW – EUROPE
EU chicken prices largely stable in May, while farm-gate live bird prices fell by 7%. Strong growth in the European poultry market in H1 2026, led by Eastern European production increases of over 15% in some countries, put pressure on live bird quotations, particularly on the Deinze and ABC reference markets. Carcass prices held steady, but live bird prices to remain under pressure amid rising oversupply risks in Q3. EU poultry imports increased by 9% in the first five months of 2026, driven by a 25% rise in Brazilian imports and 18% decline in average import prices.
BROILER CHICKEN PRICE OVERVIEW – USA
U.S. chicken prices rose 2% in May, supported by steady market activity and sufficient supply. But breast meat and tenders remain oversupplied, keeping prices under pressure. Demand is expected to strengthen in June and July, boosted by the FIFA World Cup and higher consumption of fried chicken products. Export prospects have also improved, with China gradually reopening its market following the reauthorization of shipments from 17 U.S. states. While China had previously suspended imports due to HPAI outbreaks without applying the regionalization principle agreed in 2020, restrictions remain in place for 27 states.
BROILER CHICKEN PRICE OVERVIEW – BRAZIL
Chicken prices rose 3% in May in Brazil, supported by strong export demand, higher production costs, and robust domestic consumption. But the market has remained oversupplied in recent months, prompting flock reductions in some regions, notably São Paulo State. Brazilian poultry exports increased by 8% during the first five months of 2026, driven by strong growth in shipments to Japan (+29%), South Africa (+22%), and Ghana (+82%).
BROILER CHICKEN PRICE OVERVIEW – CHINA
Chinese chicken May prices rose, with stable demand and slightly tighter supply. Retail prices have been steady for over 50 days. Historically, Chinese chicken and pork markets have moved together, but recently chicken saw a decoupling from pork dynamics, reflecting a changing consumer behaviour. China’s export performance in May was exceptional: volumes reached a new record of 120,000 tons, up 100% YoY. At this pace, China’s poultry exports are on track to exceed 1 Million tons in 2026 – representing a fivefold increase since 2020.
