The U.S. broiler industry dealt with collapsing consumer demand and inflation concerns in 2023, but long-term annual price contracts helped many companies stay profitable.
Industry performance at a glance
According to WATT Global Media’s annual Top Broiler Companies survey, the top broiler companies produced 1.024 billion pounds per week of ready-to-cook (RTC) chicken in 2023. That’s 2.2% more RTC pounds processed on a weekly basis than in 2022. More than half of the 32 companies included in the top broiler companies increased RTC production between 2022 and 2023. According to survey responses and industry research, 18 increased production, three decreased production and 11 did not change.
“2023 was arguably the worst year on record – at least by ‘modern’ standards (the past 40-50 years) – for the U.S. broiler industry based on spot market conditions, eclipsing even 2011, which was a notorious year of awfulness for integrators, in terms of financial futility,” said Mark Jordan, executive director of LEAP Market Analytics. Read more