USDA: Turkey export and import forecasts revised up

Published 2020년 11월 4일

Tridge summary

The article reports a decrease in agricultural production and exports, specifically turkey meat, compared to the previous year. August placements were 9.2% lower than the year before, resulting in a forecast of 5.738 billion pounds for 2020, a 1% decrease from 2019. The 2021 forecast remains almost unchanged at 5.77 billion pounds, showing slight growth. August exports totaled 48 million pounds, with Mexico being the primary recipient, and China's share increased to 10% compared to last year. Import figures from Chile also rose, surpassing 2019 levels. Additionally, the wholesale price of whole turkeys has seen an increase, reaching higher levels than last year, while prices for fresh tom turkey breasts have experienced a decline, likely due to COVID-19 impacting further processing capacity.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

August placements totaled 20.6 million head, 9.2 percent below placements in August of 2019. As turkeys take 14-16 weeks to mature, August turkey-chick placements are the key predictor of the expected Thanksgiving production. The third-quarter forecast was revised up to 1.45 billion pounds on production data. The fourth-quarter production forecast is 1.45 billion pounds. In total, 2020 production is forecast at 5.738 billion pounds, 1 percent lower than 2019. The 2021 forecast is unchanged at 5.77 billion pounds, which represents just under 1 percent growth over the 2020 forecast. August turkey exports totaled 48 million pounds, 29.2 million pounds of which were shipped to Mexico. Exports to China made up 10 percent of shipments in August, totaling 4.8 million pounds. The next largest destinations were Haiti, with 1.3 million pounds, and Peru and Canada, with 1.1 million pounds each. Total exports are still behind 2019 levels, with the current year-to-date total only 86 percent of ...

Source: EuroMeat