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submitted 2 years ago by MicroWave@lemmy.world to c/news@lemmy.world

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.

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[-] Drusas@kbin.social 151 points 2 years ago

No one should be buying anything from Tyson. Pure evil company, not only with deliberately squeezing money from the cash-strapped like this, but the way they treat their animals absolutely should be illegal.

[-] AccmRazr@lemm.ee 41 points 2 years ago

Adding to it, the treatment of their employees is horrendous and very low paying.

[-] remotelove@lemmy.ca 11 points 2 years ago

The kids they were employing thought they were getting paid a fortune though.

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[-] KaleDaddy@reddthat.com 28 points 2 years ago

Id like to inform everyone that the cruel way they treat animals is how every single animal agriculture company treat their animals. 99% of animals in farms on earth are farmed in a way that meets the "factory farmed" description. Those "certified human" stickers on your grocery store meat is a label made by a board composed entirely of the CEOs of those exact companies theyre supposed to be regulating.

[-] Shadywack@lemmy.world 11 points 2 years ago

I realize it's a typo but "certified human" labels on meat would be pretty wild to see.

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[-] TheTurducken@mander.xyz 7 points 2 years ago

Don't forget that they are snitches too. Tyson dropped a dime

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[-] GlitzyArmrest@lemmy.world 107 points 2 years ago

Now seems like a perfect time to squeeze the pennies out of the lower class, according to Tyson.

Also, Tyson meat is all trash anyway. Too bad other companies are participating. Isn't this close to price fixing or something?

[-] SeaJ@lemm.ee 33 points 2 years ago* (last edited 2 years ago)
[-] WhatAmLemmy@lemmy.world 16 points 2 years ago

Lol, that was only several years ago. But they were fined a pittance? Why would they continue to commit the same crimes when it's wildly profitable?

[-] transientpunk@sh.itjust.works 14 points 2 years ago* (last edited 2 years ago)

It's not a fine, it's just a cost of doing business.

The only way to make them stop is to hurt their profits, but our corptocracy is too spineless to levy proper fines against businesses.

[-] Cylusthevirus@kbin.social 7 points 2 years ago

Or we could start tar and feathering boards of directors. We could even use chicken feathers!

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[-] Jaysyn@kbin.social 84 points 2 years ago* (last edited 2 years ago)

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.

That's not competition, that's cartel behavior. Sounds like it's time to break Tyson Foods back up into smaller companies.

[-] KingThrillgore@lemmy.ml 42 points 2 years ago

I'm doing more meatless meals due to this and dietary requirements.

[-] kameecoding@lemmy.world 9 points 2 years ago

I'd recommend fitgreenmind on YouTube I was trying some of her recipes and they are very good.

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[-] tym@lemmy.world 36 points 2 years ago* (last edited 2 years ago)

If it works for OPEC, why wouldn't it work for others? Regulation of corporations is a no-brainer because they're sociopathic in nature.

If corporations really have personhood, why can't they go to jail for crimes against the community?

[-] A_Random_Idiot@lemmy.world 13 points 2 years ago

ally have personhood, why can’t they go to jail for crimes against the community?

Well, you see, thats because big corpos are run by rich people.

and only laws that benefit them may be allowed to pass.

[-] OldQWERTYbastard@lemmy.world 30 points 2 years ago

I knew Tyson was a trash company, but this is blatantly predatory; up there with Nestle. They won't get any more of my money, but I wish there was an easy way to know which house (store) brands are using Tyson.

[-] TheaoneAndOnly27@kbin.social 24 points 2 years ago

I was shocked and completely changed my diet recently when I noticed that the price per pound for chicken was greater than the price per pound for tofu. Now I'm experimenting with making my own tempeh at home.

[-] grysbok@lemmy.sdf.org 8 points 2 years ago* (last edited 2 years ago)

Look into textured vegetable protein, too. It doesn't have much taste of its own, but gives a ground-beef-like texture when you add it to pasta sauce. Wicked cheap, when you take into account that it's dehydrated.

Edit: good room temperature shelf life, too.

[-] Mistymtn421@lemmy.world 13 points 2 years ago

Their chicken is nasty IMO. I just got Purdue at Kroger and hour ago and it was 2.99 a pound for boneless/skinless. It's my preferred brand. Butchered well, way more tender.

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[-] blazera@kbin.social 11 points 2 years ago

Less chickens being slaughtered is fine by me. Maybe beef and pork producers also wanna 'boost margins'

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[-] InvaderDJ@lemmy.world 10 points 2 years ago

I am glad I stocked up on chicken thighs from my local butcher shop a few weeks ago. Was something like 99 cents/pound. Now I'm seeing them sitting at $1.70/pound.

But chicken quarters are 89 cents a pound. It's weird how the pricing works.

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[-] Restaldt@lemmy.world 6 points 2 years ago

Line...line go up?

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this post was submitted on 05 Oct 2023
433 points (98.2% liked)

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