Chicken wing prices have dropped significantly over the past year, just as NFL fans are expected to eat a record amount of wings during Super Bowl festivities.
Fresh chicken wings are selling for $2.62 a pound on average, down from $2.98 in February 2022, according to data from the Department of Agriculture (USDA). (RELATED: ‘I’m Retiring. For Good’: Tom Brady Announces Retirement From NFL)
Wing prices have dropped 22% because poultry producers have increased supply to its highest levels since 2019, Wells Fargo observed. The avian flu outbreak driving up egg prices has not influenced wing prices because of different farming techniques, Money.com reported.
Good news for Super Bowl party hosts: Chicken wing prices are down by 22% https://t.co/wqnMxJSXg7
— MarketWatch (@MarketWatch) January 30, 2023
Food inflation is up 11.8% year to year for home food and 8.3% for food away from home, according to the Bureau of Labor Statistics (BLS). Beer prices have increased 11% and soft drinks have spiked 25% year to year, according to Wells Fargo. Hamburger prices have increased slightly but avocado prices are down 20% ahead of the Super Bowl.
NFL fans are expected to eat 84 million more chicken wings during the Super Bowl than last year, for a record-breaking total of 1.45 billion wings. Lower prices and more social gatherings will lead to more chicken wings being consumed, according to the National Chicken Council (NCC), a trade organization for chicken producers.
“The two main reasons are more favorable prices and more people getting back to normal and gathering for the Big Game, whether at home or at a bar/restaurant,” NCC spokesperson Tom Super said in a press release.
Increased demand for chicken wings is likely to bring higher prices right before the big game. Compared to the final week of the regular season, wing sales increased by double digits in markets where teams were playing conference championship games, the NCC said.