Poultry –
Chicken production for the week ending October 19th rose 2.2% from the previous week and was 3.9% larger than the same week a year ago. Strong chicken production gains versus 2012 are projected to persist this fall. The USDA is projecting fourth quarter 2013 chicken output to trend 3.8% above last year. Most of the chicken markets, including wings, are softening in response to the solid chicken production. The ARA chicken wing index has declined 7.6% during October. The five year average price trend for chicken wings during the month is up 1.3%. The seasonal upside price risk in chicken wings through the Super Bowl peak may be very limited this time around. Chicken breast prices could find support soon.
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