Chicken wing prices down ahead of football season
Why it matters: U.S. consumers, who are dealing with rising prices thanks to record-high food inflation, plan to buy more chicken than other types of protein in the year ahead, according to a National Chicken Council study.
The big picture: A surge in demand for chicken wings last year, fueled both by people at home and in restaurants, caused prices to soar, Pete Gannon wrote for Axios Closer.
- Prices were also impacted by labor shortages, widespread supply-chain bottlenecks and chicken shortages.
By the numbers: The price of wings is down from a high of $3.25 a pound in May 2021 to $1.68 per pound in July, the lowest monthly average since May 2020, the USDA report said.
- In January 2022, wing prices averaged $2.68 per pound.
Meanwhile, the volume of wings in cold storage increased for the second month and was at the highest level at the end of June since 2018, the USDA report said.
What’s next: The low prices are unlikely to last as the football season ramps up, NBC News reported Thursday.
- The NFL plans to start its regular season Sept. 8.