Study Highlights Benefits of Contract Nature of Chicken Industry

The National Chicken Council Tuesday released a study that presents the results of a recent broiler industry survey designed to capture key live chicken production statistics. 

In addition, the study summarizes several key trends in broiler production efficiency, returns and loan quality data. 

According to the most recent USDA data available, the $68,455 median income for chicken farmers was significantly higher than both all farm households and all U.S. households. 

Sixty percent of chicken farmers earned household incomes that exceeded the U.S.-wide median. 

The top 20 percent of contract chicken farmers earn on average $142,000, significantly higher than the top 20 percent of all farm households. 

In terms of broiler farm loan performance, data show significantly lower charge off and deficiency percentages for chicken farmers compared to all agricultural loans. 

In 2021, only six percent of respondent’s farmers left their company, including retirements. 

Of those, only 0.7 percent of farmers left due to contract termination.

(Story Courtesy of the NAFB News Service)