The nation’s turkey producers are facing tough times in the current agriculture environment.
Which goes against the rules of supply and demand economics. That was USDA Outlook Board Chairman Mark Jekanowski, who says that producers have been attempting to keep production down and prices stable in the face of declining demand for turkey.
USDA has lowered its turkey production forecast to about five billion pounds this year.
There is a different outlook from USDA for the nation’s broiler industry says Jekanowski. USDA is projecting a boost in production for the broiler industry of more than half a billion pounds. That production increase might lead to a slight reduction in broiler prices.
In some cases, feed costs are running 20%-30% lower than last year.
