Poultry markets.(Livestock and Poultry)

In the poultry sector last week, the chicken and egg markets continued to get kicked as demand for breast meat remained weak as buyers sought to push breast meat prices lower and as egg production simply was far more than the markets required, according to Feedstuffs sources.

Breast meat--which was not only record high in June but, at $2.53-2.56/ lb., or 62.6% more than the year before, was way higher than the previous record--was $1.69-1.72 last Thursday, down 84 cents from the early-June record and 74 cents from early July.

Breast meat prices were actually 4.7% under year-ago.

Analysts explained that retailers took advantage of the seasonally slow August demand timeframe to decrease their buying to minimal needs only to force processors to give in on pricing and succeeded. Buying may pick up some this week at the lower prices, but, in the meantime, the breast meat slide has hurt the entire chicken complex, analysts said.

Chickens delivered into both eastern and midwestern markets at 69-70 cents/lb. last Thursday, down 2-6 cents from the week before but still up 14.9% from the year before as production restraint continues to keep chicken supplies well balanced.

Leg quarters were 22-35 cents, down 2 cents for the week but up 5.6% from last year, and cut wings were $1.14-1.16, down 1-2 cents for the week but up 47.4% from last year. Sources said the wing markets varied by "who has them and who doesn't and who wants them and who doesn't."

The chicken run this year at the week ended July 31 totaled 4.662 billion birds, 1.4% more than year ago.