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Second-quarter poultry forecast rides on 1Q success
Story Date: 5/16/2012
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Source: Tom Johnston, MEATINGPLACE, 5/16/12
Demand for poultry is expected to grow two percent in the second quarter thanks to high prices for beef and pork, as well as “an ongoing positive global market situation and the potential for declining feed costs,” according to a recent Rabobank forecast for the period.
“Of key importance will be for the industry to keep supply growth in balance with market growth in the next quarter(s),” Rabobank said, noting as a positive sign that U.S. inventories are 13 percent below last year’s levels and Brazil is reducing supply as it compensates for lower-than-expected export growth.
High expectations for the second quarter overall follow on positive exports of U.S. poultry in the first three months. Poultry exports rose year-on-year by 14 percent in volume to 984,947 metric tons and 27 percent in value to $1.302 billion, both new records, according to USDA’s Foreign Agricultural Service.
In March alone, U.S poultry exports rose 8.3 percent year-on-year to 339,220 metric tons and leaped 21.8 percent in value to $343.2 million, both records for the month, the agency reported.
First-quarter poultry exports consisted of broiler meat (787,722 tons, up 14 percent), chicken paws (101,544 tons, up 29 percent) and Turkey exports (82,053 tons, up 13 percent).
Mexico was the top buyer at 128,274 tons. Meanwhile, sales to Russia skyrocketed by 91 percent and those to Cuba quadrupled to 45,072 tons.
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