"Chicken Prices Soar, Squeezing US Shoppers and Boosting Tyson Foods"
Chicken prices in the US have reached record highs as inflation-weary shoppers opt for chicken over more expensive beef and pork alternatives. Companies like Tyson Foods have reduced poultry production, further driving up prices. This increase in chicken prices is expected to boost earnings for top producers ahead of the holiday season. Meanwhile, beef consumption is forecasted to drop to its lowest since 2018, and pork consumption is at its lowest since 2015. The tightening supplies and reduced placements by chicken producers are helping to reduce excess inventories and improve profit margins. However, further increases in chicken prices could threaten demand.