The USDA's latest report offers valuable insights into the poultry and egg markets for 2024.
Broiler production is raised for the first quarter, driven by expectations of heavier bird weights. Egg production experiences a slight reduction based on recent layer flock data.
Turkey production faces challenges, with a downward adjustment in forecasts. Factors such as ongoing adjustments to Highly Pathogenic Avian Influenza discoveries and persistently weak demand contribute to this reduction.
US Broiler exports are reduced due to higher U.S. prices and weaker import demand. Lower turkey prices are expected to support gains in turkey exports in early 2024.
In summary, while broiler production is on the rise domestically, turkey production faces challenges globally. The poultry and egg markets are currently affected by various disease outbreaks and market demand fluctuations.
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The information provided in this market insight is for general informational purposes and should not be considered as financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.
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