-
Stay ahead of the economic challenges on the horizon with a free subscription to The Economic Collapse Substack.
(Zero Hedge)—As US consumers shift from beef to chicken due to elevated supermarket prices, exacerbated by a rapid decline in US cattle herds, one of the world’s largest chicken producers has issued a dire warning that chicken prices could soon increase.
Bloomberg reports that Pilgrim’s Pride Corp. and the industry as a whole have developed ‘hatchery issues’, which means a large number of eggs in incubators aren’t hatching.
On Thursday, Pilgrim’s Chief Executive Officer Fabio Sandri told investors during an earnings call that the hatchery issues stem from a new breed of rooster (Frankenchickens?) that requires closer management, indicating this is the primary cause of the decline in fertility rates industrywide.
“We don’t have the housing to separate the males by weight. We don’t have the labor to individually weigh all those males to make sure that they are at the optimal weight for reproduction,” Sandri said.
Pilgrim said because of hatchery issues, chicken production nationwide is projected to grow much less than the US Department of Agriculture’s 1.5% estimate.
USDA data shows that the number of eggs hatched began dropping right after the Covid pandemic in late 2020, from 81.5% to now 76.5%. That compares with averages above 80% over the last decade.
“The hurdle to expand production comes at a time when consumers are turning to poultry as they seek cheaper alternatives to beef,” Bloomberg noted.
Retail prices of chicken boneless breast, measured by USDA, surged from about $3 a pound in early 2020 to $4.75 a pound in September 2022, primarily due to commercial farms culling large flocks due to the bird flu. Prices have since subsided to about $4.1 a pound but risk moving higher on lower production trends.
Meanwhile, consumers have been shocked by skyrocketing beef prices as the nation’s herd size recently plunged to 73-year lows.
And the UN’s global food index risks turning back up as stagflationary threats emerge in the US economy.
Meat prices are becoming super expensive for working poor households. Bill Gates is getting his wish…
Don’t wait for a stock market crash, dedollarization, or CBDCs before securing your retirement with physical precious metals. Genesis Gold Group can help.
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
Bypass Big Tech Censors
-
Stay ahead of the economic challenges on the horizon with a free subscription to The Economic Collapse Substack.