by Nate Wooley | January 24, 2013 12:01 pm
Hit the panic button: There might not be enough chicken wings to meet demand for Super Bowl XLVII.
The National Chicken Council, a Washington, D.C.-based trade group, announced that wing demand could surpass supply, Live Science reports.
What wings there are, moreover, will also be more expensive.
Super Bowl Sunday is the second-biggest eating day of the year (Thanksgiving is first), and demand for chicken wings can pass 1.2 billion units. But the numbers this year show production coming up 12.3 million wings short.
The National Chicken Council is blaming the shortage on last year’s drought across the farm states. The drought led to higher feed prices, and therefore farmers raised fewer chickens. Thus, we find ourselves chasing fewer wings, and paying more for them — the current wholesale price of chicken wings is $2.11 per pound, up more than 10% from a year ago.
Bill Roenigk, chief economist for the National Chicken Council, also blamed high corn prices on “a federal government requirement that mandates 40 percent of our corn crop be turned into fuel in the form of ethanol.”
Source URL: http://investorplace.com/2013/01/super-bowl-chicken-wing-shortage-possible/
Short URL: http://invstplc.com/1nCeths
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.