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CHICKEN PRICES HAVE DOUBLED, HERE'S WHY
May 10, 2021
Wall Street Journal reports:
At the start of 2021, chicken looked like a bargain for U.S. restaurants. Closures and dining room restrictions had contributed to swollen stockpiles of chicken in cold-storage facilities.
Boneless skinless chicken breast, the poultry industry's flagship product, last year averaged around $1 a pound, according to Urner Barry. Now boneless chicken breast is trading at $2.04 a pound, the firm said.
Over the past decade, the price averaged about $1.32 a pound. One reason for the higher prices is the chicken sandwich wars of recent years. Fast-food chains including McDonald's Corp., Popeyes Louisiana Kitchen Inc. and Wendy's Co. have introduced new crispy and spicy offerings.
More chains plan to introduce new chicken sandwiches in the coming months, including a hand-breaded version that Burger King plans to sell nationally by this summer."
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