Between January and May 2021, millions of chicken birds have been slaughtered in the EU due to Avian Influenza (AI), leading to supply tightness in the EU market. As a result, the average price of EU chicken (Mar-May ‘21) rose by 7% to EUR 1,979/MT, against the previous average price (Dec ‘20-Feb ‘21). EU chicken production is estimated to reach a total of 13.8 million tonnes (CWE) in 2021, up 1% y-o-y.
Similarly, the Mar-May ‘21 average price of US chicken increased to USD 2,084/MT, 19% above the previous average (Dec ‘20-Feb ‘21), driven by robust retail and foodservice demand coupled with high feed prices. In mid-February, a major winter and ice storm disrupted broiler production at various stages of the supply chain in Texas, Mississippi, Louisiana, and Oklahoma. Several broiler processing plants and hatching operations were affected, interrupting supplies in the market and adding upward price pressure.
From economical to political, all the factors impacting the chicken market have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.