It’s not the greatest of times right now for the nation’s Turkey producers.
“Production continues to decline and prices are declining as well.”
And that breaks the rules of supply and demand economics. All of this from USDA’s Outlook chairman Mark Jekanowski, he says producers have been trying to keep production down and prices at least stable in the face of declining demand for Turkey. USDA has lowered its forecast for this year’s Turkey production, now down to about five billion pounds.
“Lowest US production since 1995. But even Despite that, margins are still weak and we’re not looking at much improvement into 2025 either.”
But there may be some improvement on the horizon. USDA is projecting for 2025 an average price of $1.03 a pound, not a great price, but it would be about $0.09 higher than this year.
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