Chicken wing prices have drastically lowered following a pandemic-induced shortage of all poultry products that made wholesale prices skyrocket.

In the beginning of 2020, wholesale chicken wing prices per pound were about $1.60 before more than doubling during the pandemic. Wing prices peaked at about $3.25 per pound in May 2021.

But a steady decline throughout 2022 has seen wing prices fall to about $1.30 per pound in August -- lower than pre-pandemic levels, according to data from the Department of Agriculture.

"Wholesale prices were 180 percent higher in April 2021 than a year earlier. It was the largest year-over-year percent increase," USDA said.

The National Chicken Council explained that the chicken crisis was not due to a literal shortage of chicken but because of a blend of high demand, record expenses, and labor shortages.

There was also an increase in demand when Popeyes' new chicken sandwich went viral, leading many other fast-food restaurants to create their own version of the fan favorite "crispy chicken sandwich" and driving demand for poultry products.

"Demand for the new sandwich has been so strong that, coupled with general tightening in domestic chicken supply, our main challenge has been keeping up with that demand," Yum Brands CEO David Gibbs, whose KFC restaurants also rolled out a new fried-chicken sandwich, said in an April 2022 earnings call.

As Covid-19 supply restrictions and the chicken sandwich craze slowed down, suppliers were able to close the gap. Some restaurants also replaced bone-in chicken wings with boneless varieties for a period of time to also contribute to suppliers catching up.

The drop-off in chicken wing prices comes ahead of an annual boom in demand in the U.S. -- the start of football season. Industry experts expect prices to level off at some point as demand catches up with supply.