The USDA’s Poultry Outlook for September 2024 paints a tough picture for the U.S. turkey enterprise. Turkey manufacturing continues to say no, with turkey eggs in incubators down 9% compared with last yr. September 2024 moreover observed a 5% drop in hatched poults compared with the sooner yr. This decline in manufacturing is mirrored in lower placements of turkey poults, which had been 5% underneath 2023 ranges.
With weaker demand and lowered manufacturing, turkey prices have moreover been adjusted downward for the fourth quarter of 2024 and into 2025. The USDA duties further reductions in turkey exports, together with stress to the market.
As a result of the turkey sector navigates lowered present and reduce prices, the enterprise’s outlook stays uncertain, notably with feed costs moreover being impacted by modifications in corn and sorghum present