POULTRY Poultry Market Outlook - April
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 OVERVIEW – WORLDWIDE
Corn
- In the United States, and more precisely in the Corn Belt, weather conditions are favorable. However, prices on the Chicago market have slightly risen due to the decline in reported acreage for the 2024 harvest.
- Harvests in South America still appear promising, which is driving prices down.
- This trend is expected to quickly reverse. Production estimates in Argentina have indeed been revised downwards by 3 Mt by the USDA due to the occurrence of a disease affecting crops.
- In Europe, complicated weather conditions are slowing down field work.
Soybean Meal
- In April, soybean meal prices declined across all markets.
- South American harvests are expected to be very satisfying (150 Mt in Brazil and 50 Mt in Argentina), which is putting downward pressure on the markets.
- The United States faces strong competition from Brazilian soybean and sees their export opportunities reduced.
BROILER CHICKEN PRICE OVERVIEW – WORLDWIDE
In April, chicken prices remained relatively stable, following the stabilization of grain prices. Although feed prices have returned to pre-war levels, dynamic global demand is keeping prices high. This has allowed the poultry industry to post a positive performance. The HPAI situation in Europe appears to be under control, in contrast to the USA where persistent cases of HPAI are affecting production and exports in some states.
BROILER CHICKEN PRICE OVERVIEW – EUROPE
Chicken prices remained relatively stable in April, in spite of increased consumption and marginal production growth. The sector continues to face restrictions due to the Nitrate Directive, especially in Northern Europe, as well as competition from Ukrainian imports. The new deal on imports from Ukraine includes a safeguard clause, which could protect the sector from low-cost imports. The accelerated deployment of the Better Chicken Commitment (BCC) pressures supplies. Poland maintains dynamic production, while Northern Europe is declining, contributing to increased intra-European trade.
BROILER CHICKEN PRICE OVERVIEW – USA
With almost 9 million birds affected, April recorded the highest number of HPAI outbreaks. Production growth remains weak for 2024, with only a 1% increase compared to 2023. The reduction in supplies due to HPAI pushed chicken prices up in April (+2.3%). Prices for tenders and wings remain firm due to tight supplies. Exports continue to decline in March (-15%), with a collapse in sales to China (-74%) due to HPAI restrictions.
BROILER CHICKEN PRICE OVERVIEW – BRAZIL
Broiler prices in April saw a significant decline due to an oversupply caused by increased chick housing in the first two months of the year. Brazil continues to face declining prices, especially in exports, which surged by 11% in April, mainly to Saudi Arabia (+59%) and the UAE (+33%), while sales to China decreased (-23%). In March, Brazil announced that China reauthorized eight poultry processors to export, which should stimulate exports in the coming months.
BROILER CHICKEN PRICE OVERVIEW – CHINA
In April, chicken prices dropped by 5% due to decreased demand and increased production. High prices at the beginning of the year led farmers to place more chicks, resulting in a 10% production rise and higher stocks in April. Imports declined by 41%, mainly from Brazil (-36%) and the USA (-62%). In the short term, tight supplies, especially for yellow-feathered chicken, are expected to drive prices up.
