Chicken prices at U.S. grocery stores have hit record highs and should stay elevated as Tyson Foods and other companies dial back poultry production to boost margins while inflation-weary shoppers buy chicken instead of beef and pork.
Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim’s Pride (PPC.O), but will pinch consumers’ pockets as they try to save money by turning away from higher-end proteins. One index shows chicken producer profit margins at their highest in a year.
U.S. consumption of chicken is expected to exceed 100 pounds per person this year for the first time ever, data from the U.S. Department of Agriculture shows.
Beef consumption is forecast to drop to its lowest since 2018, as prices climb due to dwindling cattle supplies. Meanwhile, consumer spending cuts have knocked pork consumption to the lowest since 2015.
Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic.
I’m not even a vegetarian, but most of America is really sleeping on tofu. It’s delicious, versatile and affordable. I love cooking with it.
There are multiple meals I genuinely prefer tofu to the original protein.
It’s hard to get in certain places and people don’t understand the different varieties. If anyone reading this wants to try it, check your local Asian grocer if you’re lucky enough to have one.
IMO Thai food does vegetarian better than anyone.
I think Indian and Korean food can beat Thai
Indian food is next level when done correctly. It’s so good that it replaced a large chunk of British food for the British after they invaded India and realised that the Indians were on to something
Being vegan during the COVID shortages was a breeze. Especially in my area of Texas (you don’t find many vegans there, to say the least).
“My” shelves were always stocked.