Chicken prices at U.S. grocery stores have hit record highs and should stay elevated as Tyson Foods and other companies dial back poultry production to boost margins while inflation-weary shoppers buy chicken instead of beef and pork.
Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim’s Pride (PPC.O), but will pinch consumers’ pockets as they try to save money by turning away from higher-end proteins. One index shows chicken producer profit margins at their highest in a year.
U.S. consumption of chicken is expected to exceed 100 pounds per person this year for the first time ever, data from the U.S. Department of Agriculture shows.
Beef consumption is forecast to drop to its lowest since 2018, as prices climb due to dwindling cattle supplies. Meanwhile, consumer spending cuts have knocked pork consumption to the lowest since 2015.
Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic.
Absolutely not, it could be a personal quirk. I have literally over a hundred recipes for zucchini, and I’ve won multiple awards for one of my zucchini dishes. Zucchini is always going to be meh at best for me, because it’s a personal preference. Maybe tofu is like that for you, but it’s not true for everyone.
I tried tofu for the first time as a teenager and didn’t eat it regularly until my 20s. It’s now in several of my favorite things to eat. However, it can be finicky, and I don’t always like how others prepare it. I’m obviously also not representative of every person, but it’s not an impossible thing to learn to like or even rare for adult vegetarians/vegans to develop a serious taste for.