Poultry Market Outlook - February

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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Chicken prices were little changed in February, with a downward trend observed in the major producing regions, apart from Brazil, where heat waves have affected farms and crops. The poultry industry continues to perform well with reduced costs and stable prices. Thanks to HPAI vaccination, a country like France had a relatively calm winter. Many other countries are now considering the use of vaccination. Export activity remains dynamic with positive world consumption.

Broiler chicken market price comparison - Feb2024
Broiler chicken market price comparison – Feb2024

 

BROILER CHICKEN PRICE OVERVIEW – EUROPE

Chicken production continues to grow, driven by dynamic demand. Poultry should remain the preferred protein in Europe in 2024 as it is more affordable than other sources. Chicken prices fell slightly in February, continuing the trend of lower feed costs. A significant increase in the supply of breast meat, particularly due to increased imports, mainly from Ukraine, is putting pressure on margins in the European chicken industry. Despite this, a projected increase in EU chicken supply is expected, along with potential production boosts from France’s new HPAI vaccination program. However, shifts towards higher welfare standards and ongoing HPAI outbreaks could affect production dynamics.

Broiler chicken price in the EU_Feb2024
Broiler chicken price in the EU – Feb2024

BROILER CHICKEN PRICE OVERVIEW – USA

Chicken prices fell slightly in February, with supply balanced but some tightness in wings and tenders. The US chicken market remains positive and offers advantages over other meats (beef, pork) which remain relatively more expensive. Despite the challenges posed by HPAI, the sector is performing well. Exports continue to suffer from China’s HPAI restrictions, with U.S. sales down 2% in January, including a 48% drop to China.

Broiler whole chicken price in the USA_Feb2024
Broiler whole chicken price in the USA – Feb2024

BROILER CHICKEN PRICE OVERVIEW – BRAZIL

Broiler prices rose in February. The heat wave that hit the country has affected farm performance and crop yields. In addition, strong export demand kept prices high. Despite a decline in sales to China (-18%), Brazil increased its exports by 4.3% in February. This trend is expected to reverse in the coming months. The end of anti-dumping measures imposed by China makes Brazilian poultry exports more competitive for the Chinese market.

Wholesale chicken price chilled in the BR_Feb2024
Wholesale chicken price chilled in the BR – Feb2024

BROILER CHICKEN PRICE OVERVIEW – CHINA

Chicken prices in China fell in February due to weak demand and oversupply. This situation led to a 52% drop in broiler imports for February 2024. The Chinese government has announced that it will not renew anti-dumping duties on imports from Brazil. This move is expected to lead to an increase in import volumes and a decrease in prices, which should stimulate consumption.

Broiler chicken cash price in the China_Feb2024
Broiler chicken cash price in the China_Feb2024
POULTRY MARKET WATCH is a monthly newsletter edited by Ceva Headquarters Libourne, France) Editor-in-chief: Caroline Gremillet, Ceva. Writers: Caroline Gremillet Market Data) Mohamed Bouizidi ABCIS, Poultry Market Analysis)All figures are from public sources and when using them, you are required to acknowledge their original sources and Ceva’s reprocessing. Experts in animal sectors – ABCIS