Data released by the U.S. Bureau of Labor Statistics confirmed a nine percent increase in the category "Meat, Fish, Poultry and Eggs" during September 2022 compared to the corresponding month in 2021. The protein category was lower than the 11.2 percent recorded for all food and the 8.2 percent increase for all categories.
Within the poultry segment, the overall increase was 17.2 percent with whole fresh birds at 15.0 percent offset by higher prices for parts at 18.4 percent. Escalation in price is attributed to increased demand due to a downshift in selection of protein on a unit cost per pound from beef to pork and then to chicken. Supply was limited by approximately two percent from mid-2021 onwards by a reduction in the volume of broiler chicks placed, attributed to lower hatchability.
Chicken outpaced cold cuts that increased by17 percent, pork by 6.7 percent. Based on an increase in supply due to drought-induced herd depletion, all beef was down one percent although ground beef, a household staple was higher by 3.9 percent.