Chicken prices in the United States have reached $1.96 a pound, as post-COVID production cuts and inflation bite back.

Tyson’s, a key chicken producer, reduced production during the pandemic period and in 2023 may slash 4700 jobs to handle costs.

Despite these cuts, the high prices of chickens are on the rebound beneficial to firms such as Tysons. After reaching peak supplies in 2022, companies can now fall back on current stocks and reap an advantageous bottom line.

Data shows that U.S. broiler hatcheries had 2.7% less chicks on September 23, 2023 than in fall 2022. This is in spite of egg incubation having grown by 4.5% in September of 2022 from the previous year. 

The U.S. Department of Agriculture (USDA) reported that by the week ending September 30, eggs hatcheries had incubated 232 million eggs. This marked 3% less eggs than a similar time in 2022. 

 Chicken is the most purchased meat product in the U.S., currently being the most affordable ahead of costlier beef and pork.

Appetite for broiler meat among Americans is also growing and will hit the consumption milestone of 100 pounds per individual in 2023. This will be two times more the 57.4 pounds of beef per person during the same period. 

The preference for broiler chicken has improved for the simple reason that it is a cheap, accessible source of protein.

With a whole chicken pound going for $1.96 ($4.312 per kilo), customers are currently feeling price-weary. The price range also fluctuates and can reach up to $7.49 a kg. 

The above September-October 2023 price is a few cents over the fall 2022 price of $1.83 a pound. 

Despite 2022 experiencing a sharp price curve, the cost for boneless and skinless chicken breasts finally declined in October. Prices in 2023 have curved slightly upward around September and October instead of going down like last year’s.

Consumers, nevertheless, are at the mercy of inflation and are falling back to chicken instead of the pricier alternatives.

The cost notch did not start this year, either. In 2021, a pound of chicken breast also spiked by almost a dollar over that of 2020 from  $0.93 to $1.91.