Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Summary

Poultry/Eggs: Broiler production is adjusted up in the first quarter on strong average weights. Broiler prices are adjusted up in the first half of 2024, and projected broiler exports in 2024 are adjusted down on less-competitive prices and weak international demand. Projected table egg production in 2024 is adjusted down slightly on recent losses to Highly Pathogenic Avian Influenza (HPAI). Projected egg prices are increased on recent data. Projected imports and exports of eggs and egg products are unchanged for 2024. Projected turkey production was lowered in 2024, reflecting recent placement data and losses to Highly Pathogenic Avian Influenza (HPAI). Turkey prices were adjusted down on recent data, while projected exports in 2024 were adjusted up on favorable prices and strong demand.

For 2024, Exports as a Share of Production Projected To Shift Slightly

In 2023, beef exports accounted for 11.3 percent of production. In 2024, the share is projected lower at 10.6 percent. For pork, 25.0 percent of production was exported in 2023; the share is projected at 25.4 percent for 2024. Broiler exports were 15.7 percent of production in 2023 and are projected slightly lower at 15.4 percent in 2024. Turkey exports made up 9.0 percent of production in 2023 but are projected to increase to 9.5 percent in 2024.

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