Wednesday, October 14, 2009

Chicken Wings more expensive than Chicken Breasts

In a continuing coverage of chicken price shenanigans a new bit of information has popped up thanks to the New York Times.   Apparently chicken wings cost more than chicken breasts... the 3rd horseman of the apocalypse!  Check out this article in the News and Observer on this wierdness.

Check my previous coverage of suspicious Taco Bell CHICKEN prices, and Kyle's technical analysis of the Toxic Mexican Asset Class in relation to poultry prices.

Excerpt from the News and Observer:
In seven of the last 11 months, wholesale wing prices have been higher than breast prices, a reversal in a market where breasts usually reign supreme. In September, the average wholesale price for whole chicken wings in the Northeast was $1.48 a pound, according to the Agriculture Department. Yet skinless, boneless breasts were $1.21 a pound.
A year earlier, wings sold for 94 cents and breasts for $1.15, and as recently as May 2008, skinless, boneless breasts were selling for 57 cents more than wings.
The wholesale price shift has generally not been reflected in supermarkets, where grocers appear to be trying to preserve their margins on breast meat. Nationally, on average, breasts are $2.80 a pound at retail, still 83 cents more than wings. However, some grocers are exploiting the wholesale price drop to run aggressive sales on breasts.

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