The USDA’s Poultry Outlook for September 2024 paints a challenging picture for the U.S. turkey industry. Turkey production continues to decline, with turkey eggs in incubators down 9% compared to last year. September 2024 also saw a 5% drop in hatched poults compared to the previous year. This decline in production is reflected in lower placements of turkey poults, which were 5% below 2023 levels.
With weaker demand and reduced production, turkey prices have also been adjusted downward for the fourth quarter of 2024 and into 2025. The USDA projects further reductions in turkey exports, adding pressure to the market.
As the turkey sector navigates reduced supply and lower prices, the industry’s outlook remains uncertain, particularly with feed costs also being impacted by changes in corn and sorghum supply
