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Article: Chicken breast meat collapses; packers forced to bid cattle up.(Livestock And Poultry)
- Article from:
- Feedstuffs
- Article date:
- July 26, 2004
- Author:
CopyrightCOPYRIGHT 2004 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Chicken prices slipped 2-3 cents last week--declining from the week before for the first time, except for one week in February, in nearly 40 weeks --and breast meat went into an absolute collapse, falling 55 cents. One veteran reporter said he had never seen breast meat fall so fast and hard in one week in his years in the industry.
The chicken complex did show some weakness the week before, but no one expected what happened last week to happen, observers said, attributing much of the event to a halt, or near stop, in breast meat buying off the cash market by major processors supplying quick-service restaurant systems. Observers said this was a consequence of ...