Cheaper feed helps — but inefficient farming can still destroy the margin

Lower maize and soybean prices are undoubtedly positive. NAMC recorded significant year-on-year declines in both commodities toward the end of 2025.

However, cheap feed does not automatically mean cheap chicken.

Imagine two farmers purchasing exactly the same feed. One achieves good weight gain with low mortality and excellent feed conversion. The other loses feed through poor storage, incorrect feeders, excessive heat, bad ventilation and birds taking longer to reach market weight.

Their feed invoices may look identical.

Their cost per kilogram of chicken will not.

This is why small farmers should increasingly track feed conversion ratio rather than feed expenditure alone.

The same principle applies to mortality. Losing five birds from 500 may appear insignificant when looking at the chicken house. Financially, however, the farmer has paid for chicks, heating, feed, medication and labour that will never generate a sale.

Scale magnifies both good management and bad management.

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