POULTRY Poultry Market Outlook - November
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
In November, corn prices rose on global markets, supported by significant uncertainties surrounding the future of current trade agreements, which could be challenged by the new President of the United States. In contrast, soybean prices trended downwards. The anticipated surplus of 25 Mt for this campaign is putting significant pressure on prices.
Corn
- Despite the strengthening of the dollar following Donald Trump’s election, corn prices rose on the US market in November: $166/t. In response to the growing threat of tariffs on Mexican imports, Mexico, the largest importer of US corn, has increased its purchases, thereby supporting prices.
- Corn prices in Brazil are also trending upwards, naturally in line with the approach of the harvest. The La Niña climate phenomenon, which typically occurs during the winter, could negatively affect expected yields. However, according to the World Meteorological Organization, its impact is expected to be limited and short-lived this year.
- In the European market, prices have fallen (-$6.8/t), primarily due to the pressure from ongoing harvests. Corn traded at an average of $225.8/t, compared to $232.6/t in October.
- In China, maize prices are declining under the weight of the national harvest, with a loss of $13.3/t over the past month. China continues to increase its production, harvesting 292 Mt this year, a 7% rise compared to the 2019-2023 average.
Soya and Soybean meal
- In the US market, soybean meal recorded a further decline, falling to $313.7/t in November. This drop logically follows the decrease in soybean prices, driven by the weight of the anticipated global supply balance and robust crushing activity.
- A similar trend is observed for Brazilian soybean meal, which fell by $31/t over the month. With 169 Mt expected this year compared to 153 Mt last year, Brazil is strengthening its position in the soybean market.
- European and Chinese markets, as importers, are following these price trends. In Rotterdam, soybean meal prices stood at $385/t in November, down from $422/t in October. The decline is less pronounced in China, where prices fell by $9/t compared to October, settling at $464.4/t.
BROILER PRICE MARKET OVERVIEW – WORLDWIDE
In November, chicken prices increased at varying rates depending on the region. Overall, market conditions remain positive, driven by strong demand and a supply struggling to keep up, pushing prices upward. These favorable conditions have stimulated dynamic investment and acquisition activities in recent months, particularly in Europe (e.g., LDC, MHP). On the international trade front, exchanges remain robust, with strong demand in the Middle East and a particularly advantageous Brazilian market.
Sources: EC Agridata, USDA AMS reports, Cepea, Chinese Natl Dev & Reform Commission, Banque de France, Ceva
BROILER CHICKEN PRICE OVERVIEW – EUROPE
In Europe, the price of chicken reached an unprecedented record high in November, driven by increasing demand and a decline in slaughtering activity in Northern Europe, where processors are seeking live chicken volumes to keep their facilities operational. This surge occurred despite feed prices dropping to pre-COVID levels. Following a decline in previous months, EU chicken imports rose by 16% in November, fueled by a robust recovery in imports from Brazil (+85%) and Thailand (+28%).
BROILER CHICKEN PRICE OVERVIEW – USA
In November, US chicken prices remained stable, following an upward trend over the past three months. Market activity is moderate, with stable demand for boneless cuts and tenders but weak demand for dark meat. The USDA reports an abundant supply of boneless cuts and slightly elevated stocks, which could drive price declines in the coming months. For 2025, production is expected to grow, with a potential price increase of at least 1.6%. Chicken exports fell in October (-14%), mainly due to a 70% drop in shipments to China.
BROILER CHICKEN PRICE OVERVIEW – BRAZIL
In November, chicken prices in Brazil rose by 6%, driven by higher prices of other proteins and a shift in demand toward chicken. Production costs increased by 8.7% year-on-year. Prices are expected to continue rising through the end of the year. Brazilian exports reached a record high in November, up 23%. After a 1.1% production increase in 2024, the ABPA forecasts a 2.7% rise in 2025, supported by growing exports.
BROILER CHICKEN PRICE OVERVIEW – CHINA
In November, chicken prices in China rose slightly, driven mainly by white-feather chicken, where limited supply is pushing prices higher. Despite the price increase, farm revenues continue to decline due to sharply rising production costs. Demand is expected to remain stable through January, while imports have dropped significantly (-30% in October), particularly from Brazil (-41%).
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