Blame McDonald's for higher chicken prices

All consumers are paying more because of the fast-food giant's stockpiling in preparation for its Mighty Wings menu item.

By Aimee Picchi Aug 29, 2013 2:21PM

Handout photo from McDonald's showing the restaurant's While McDonald's (MCD) fans might be celebrating the return of the fast-food giant's Mighty Wings, they should take a moment to consider the consequences on their next supermarket trip. 


Chicken's rising cost is largely due to McDonald's stockpiling wings over the past year to bring back the menu item, Wedbush analyst Nick Setyan told Bloomberg Television.


Wing prices surged to $2.04 per pound in February, based on Georgia dock prices, although they've since settled around $1.45 per pound. While that's down from the peak, it's still higher than 2011's prices, when chicken wings could be bought wholesale for as little as 77 cents a pound. 


Unfortunately for football fans, the highest prices coincided with the Super Bowl, causing some feathers to be ruffled. The squeeze even allegedly prompted two storage workers to steal $65,000 worth of frozen chicken wings.


McDonald's might have become its own worst enemy in the great chicken-wing roundup, however. Wedbush's Setyan said he doesn't believe the fast-food chain will add Mighty Wings as a permanent menu after witnessing how much its mammoth purchases can move the market. 


"They underestimated their own impact on wing costs," he notes. 


The restaurant giant declined to comment, according to Bloomberg Businessweek. 


Consumers may see continued easing on prices, given that McDonald's is likely done with snapping up chicken wings after building its stockpile earlier this year. But that provides another, somewhat less savory takeaway. 


As Setyan noted: It means consumers are "eating 4-month old chicken wings."


Follow Aimee Picchi on Twitter at @aimeepicchi.


More on moneyNOW

210Comments
Aug 29, 2013 2:47PM
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Wait.. so MickeyD's 'stockpiled' chicken wings since 2011!!!!
Am I the only one that is amazed that they're serving chicken over 2 years old ?!?

besides all the other crap that MickeyD's is comprised of....

Aug 29, 2013 3:01PM
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Todays target will be McDonalds, not Walmart, not the Republican party, not guns, but McDonalds.  We would also like to note the absence of a gay story today....
Aug 29, 2013 4:20PM
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All food prices are up.
BLAME THE WELFARE TRASH WHO GET TO SHOP FOR LOBSTER WHILE I HAVE TO PINCH PENNIES TO BUY MY GROCERIES WITH MONEY THAT I EARN.

Aug 29, 2013 3:08PM
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Trolls, turning every fluff article into an excuse for a political extremist rant. 
Aug 29, 2013 2:58PM
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I want to know WHY does MSN have a vendetta for McDonalds?  You have something negative almost EVERYDAY about evil fast food McDonalds or Wal Mart. Why don't you have REAL NEWS about the OBAMA administration and how crappy it has been?  How about his bad mouthing BUSH about Iraq before he was elected and now he is going to do the same thing in SYRIA?  The big difference, of course is OBAMA will do it without CONGRESS voting on it while BUSH went through the proper channels..  You are a pathetic, so called, news organization.......which is in the pocket of OBAMA and the DEMOCRATS!  Just admit the truth, because it is SOOOO obvious to most Americans.
Aug 29, 2013 3:02PM
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The Law of supply and demand////////////////// No brains needed to figure this one out.
Aug 29, 2013 5:08PM
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I totally got a flat tire today. It's McDonald's fault.
Aug 29, 2013 3:36PM
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With all the hormones, and chemicals in chicken now a days, I'm sure the name "Mighty Wings" was invented in a Florida medical facility.
Aug 29, 2013 3:00PM
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I don't like McDonalds at all, but this is just Bull$hit

Aug 29, 2013 3:49PM
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The consistent blame on MacDonald's for much that is wrong in this country has grown extremely unprofessional, irresponsible journalism and wrong. Sorry that this journalist doesn't like MacD's but they are to blame for many of our countries woes, nor are they to blame for the Childhood Obesity and Adult Obesity epidemic.

 

As many journalists attempt to blame this and that on MacDonald's they have proven that not only are they bad journalists but report on personal peeves which most of the time have proven to be UNTRUE.

 

THIS SAID PROVES MY POINT LOUD AND CLEARLY!  

Aug 29, 2013 3:08PM
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Nothing like eating 4 month old RANCID chicken wings.  Yummmy .  Chicken fat gets rancid very early.
Aug 29, 2013 3:39PM
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They always go up during football season.  I don't think Mcd's has much to do with it.  They will be off the menu in no time at all.
Aug 29, 2013 4:05PM
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does anyone else pay attention to what McD IS Charging, its a dollar a piece. you can get them cheaper anywhere else that sales them, wake up people its mcdonalds not some fancy restrauant
Aug 29, 2013 4:17PM
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Ammie, you've confirmed what your readers have known all along you are a raging left wing radical nut.  Supply and demand are basic principles of a free market economy. 

Aug 29, 2013 4:55PM
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Don't care, still won't eat fast food. Not for health reasons, I'm too cheap.
Aug 29, 2013 3:54PM
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Split breasts at HEB's for a buck a pound. But I guess couch potatoes watching "football" have to have chicken wings.
Aug 29, 2013 6:00PM
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I clicked twice on a headline that states most American's are AGAINST defunding Obamacare? It takes me to this page about a bunch of losers wanting excessive pay for their sorry hides and still working like they are half dead. I have never met anyone who wants to see Obamacare funded or implemented. Only freeloaders, illegals and drug abusers seem to side with the libs. It is time to make those that created this stupid law pay for their crimes and those that report such absurd lies to no longer have jobs in the news media.
Aug 29, 2013 4:45PM
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Something is afoul with all this talk about a fowl. But I am with the cows 'eat more chikin" I need more food stamps.....

Aug 29, 2013 4:53PM
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There are other parts of the chicken that are edible, people!
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