US: Mississippi poultry sector generates $3.1 billion in 2023

Published Dec 21, 2023

Tridge summary

Mississippi's poultry industry experienced a 23% loss in value in 2023, reaching a total of $3.1 billion, down from $3.9 billion in 2022. The decline was due to a failure to meet the record high prices of the previous year. Disease battles with viruses such as highly pathogenic avian influenza and labor shortages were major challenges for the industry, and while agricultural economists forecast a more stable year in 2024, publicly traded poultry companies reported major losses in 2023.

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

Original content

Mississippi’s poultry took an estimated 23% loss in value in 2023, according to Mississippi State University extension services. Though production was strong, a failure to meet the previous year’s record high prices was responsible for the hit. Poultry generated an estimated $3.1 billion to Mississippi agriculture in 2023, down from the $3.9 billion generated in 2022. Eggs had the larger decline, dropping 30% to $202 million, while broilers dropped 22% to $2.9 billion. With this farm gate value, poultry retains its top spot in Mississippi agriculture, above soybeans at $1.6 billion and forestry at $1.5 billion. The US Department of Agriculture (USDA) will release final ag values next April. Josh Maples, agricultural economist with the Mississippi State University Extension Service, said the decreased value does not mean 2023 was a bad year. “For context, the 2023 poultry value of production is 17.5 percent higher than the 2021 value of production,” Maples said. “The current USDA ...

Source: Thepoultrysite