The price of chicken wings has dropped to its lowest level in years ahead of the start of football season, although the average lower cost may not last through the fall.
There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.discussed wing prices on a recent earnings call
, noting that wings were viewed as "a great appetizer" by pizza parlors and other quick-service restaurants during the pandemic due to their convenience. But when the costs skyrocketed, many restaurants later pulled them from the menu and replaced them with boneless wings or other poultry cuts. "So with that, we saw a very fast decline in the price of wings to the prices that we have today, a little bit of seasonality as well as we ended the football and the basketball season," Pilgrim's Pride CEO Fabio Sandri said on the July 28 call. Ander Christensen advocating for 'boneless chicken wings' to be given a new name on Aug. 31, 2020 in Lincoln, Nebraska.
However, Sandri noted that he expects the price of wings to once again increase with the coming sports seasons, notably NFL and college football — meaning wings will once again be in demand for fans at bars, restaurants, and tailgates. The first set of college football games is set for this weekend, the NFL season begins its regular 2022 season on Sept. 8, and the college basketball season tips off in November. All the news you need to know, every day