September 14, 2014 in Daily Bulletin
A while back the gentlemen over at Freakonomics looked at the economics of the chicken business:
- Chicken feet used to be a value-less product for chicken farmers. They would be mixed into things like dog food.
- Then costs started to rise due to competition for chicken feed from the ethanol fuel industry. Chicken farmers looked for ways to stay afloat.
- Chicken feet are eaten in China and industry veterans realized that there was an opportunity to export them.
- These days chicken feet exported to China are basically the only profitable part of a chicken.
- During October however, the price of chicken wings surges, in what is known as the Football Effect.
Read about chicken pricing, sales, and more over here.