U.S. Chicken Meat Export Price per Ton August 2022

In August 2022, the chicken meat price per ton amounted to $1,471, remaining constant against the previous month. Over the period from January 2022 to August 2022, it increased at an average monthly rate of +2.1%. The most prominent rate of growth was recorded in June 2022 an increase of 18% m-o-m. As a result, the export price attained the peak level of $1,507 per ton; afterwards, it flattened through to August 2022.

There were significant differences in the average prices for the major foreign markets. In August 2022, the country with the highest price was Canada ($3.3 per kg), while the average price for exports to Georgia ($1 per kg) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

U.S. Chicken Meat Export Prices by Type

Average prices varied somewhat for the major types of exported product. In August 2022, the highest price was recorded for prices to frozen whole chickens ($2 per kg) and fresh or chilled whole chickens ($1.9 per kg), while the average price for exports of frozen cuts of chicken ($1.4 per kg) and fresh or chilled cuts of chicken ($1.6 per kg) were amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for the following types: frozen whole chicken (+12.0%), while the prices for the other products experienced more modest paces of growth.

U.S. Chicken Meat Exports

In August 2022, overseas shipments of chicken meat were finally on the rise to reach 308K tons for the first time since May 2022, thus ending a two-month declining trend. The total export volume increased at an average monthly rate of +1.3% from January 2022 to August 2022; the trend pattern remained consistent, with only minor fluctuations in certain months. The growth pace was the most rapid in February 2022 with an increase of 13% m-o-m. The exports peaked at 338K tons in May 2022; however, from June 2022 to August 2022, the exports stood at a somewhat lower figure.

In value terms, chicken meat exports rose notably to $453M (IndexBox estimates) in August 2022. The total export value increased at an average monthly rate of +3.3% over the period from January 2022 to August 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain months. The most prominent rate of growth was recorded in June 2022 with an increase of 10% month-to-month. As a result, the exports attained the peak of $477M. From July 2022 to August 2022, the growth of the exports failed to regain momentum.

U.S. Chicken Meat Exports by Type

Frozen cuts of chicken (251K tons) was the largest type of chicken meat exported from the United States, accounting for a 82% share of total exports. Moreover, frozen cuts of chicken exceeded the volume of the second product type, fresh or chilled cuts of chicken (55K tons), fivefold. The third position in this ranking was taken by frozen whole chickens (1.6K tons), with a 0.5% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of the volume of export of frozen cuts of chicken stood at +1.4%. With regard to the other exported products, the following average monthly rates of growth were recorded: fresh or chilled cuts of chicken (+2.2% per month) and frozen whole chickens (-17.3% per month).

In value terms, frozen cuts of chicken ($364M) remains the largest type of chicken meat exported from the United States, comprising 80% of total exports. The second position in the ranking was taken by fresh or chilled cuts of chicken ($85M), with a 19% share of total exports. It was followed by frozen whole chickens, with a 0.7% share.

From January 2022 to August 2022, the average monthly rate of growth in terms of the export volume of frozen cuts of chicken amounted to +3.3%. With regard to the other exported products, the following average monthly rates of growth were recorded: fresh or chilled cuts of chicken (+4.1% per month) and frozen whole chickens (-7.4% per month).

U.S. Chicken Meat Exports by Country

China (62K tons), Mexico (57K tons) and Cuba (21K tons) were the main destinations of chicken meat exports from the United States, together accounting for 45% of total exports. These countries were followed by the Philippines, Vietnam, Taiwan (Chinese), Angola, Canada, Guatemala, Georgia, Congo, Haiti and Colombia, which together accounted for a further 35%.

From January 2022 to August 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +20.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for the meat exported from the United States were China ($106M), Mexico ($65M) and Canada ($42M), with a combined 47% share of total exports. Cuba, the Philippines, Taiwan (Chinese), Angola, Vietnam, Guatemala, Congo, Georgia, Colombia and Haiti lagged somewhat behind, together accounting for a further 33%.

Vietnam, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: https://www.indexbox.io/blog/chicken-meat-price-per-ton-august-2022/