433
submitted 1 year 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.

top 50 comments
sorted by: hot top controversial new old
[-] Drusas@kbin.social 151 points 1 year 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 1 year ago

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

[-] remotelove@lemmy.ca 11 points 1 year ago

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

load more comments (1 replies)
[-] KaleDaddy@reddthat.com 28 points 1 year 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 1 year ago

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

load more comments (2 replies)
[-] TheTurducken@mander.xyz 7 points 1 year ago

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

load more comments (3 replies)
[-] GlitzyArmrest@lemmy.world 107 points 1 year 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 1 year ago* (last edited 1 year ago)
[-] WhatAmLemmy@lemmy.world 16 points 1 year 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 1 year ago* (last edited 1 year 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 1 year ago

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

load more comments (1 replies)
load more comments (1 replies)
[-] Jaysyn@kbin.social 84 points 1 year ago* (last edited 1 year 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 1 year ago

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

[-] kameecoding@lemmy.world 9 points 1 year ago

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

load more comments (1 replies)
[-] tym@lemmy.world 36 points 1 year ago* (last edited 1 year 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 1 year 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 1 year 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 1 year 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 1 year ago* (last edited 1 year 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 1 year 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.

load more comments (1 replies)
[-] blazera@kbin.social 11 points 1 year ago

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

load more comments (14 replies)
[-] InvaderDJ@lemmy.world 10 points 1 year 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.

load more comments (2 replies)
[-] Restaldt@lemmy.world 6 points 1 year ago

Line...line go up?

load more comments
view more: next ›
this post was submitted on 05 Oct 2023
433 points (98.2% liked)

News

23301 readers
1641 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS