The USDA’s Poultry Outlook for September 2024 paints a tough picture for the U.S. turkey commerce. Turkey manufacturing continues to say no, with turkey eggs in incubators down 9% as compared with ultimate 12 months. September 2024 moreover observed a 5% drop in hatched poults as compared with the sooner 12 months. This decline in manufacturing is mirrored in lower placements of turkey poults, which had been 5% beneath 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 extra reductions in turkey exports, together with stress to the market.
As a result of the turkey sector navigates lowered present and reduce prices, the commerce’s outlook stays uncertain, notably with feed costs moreover being impacted by changes in corn and sorghum present