Market Outlook

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

Summary

Poultry/Eggs: Broiler production forecasts in 2022 and 2023 are adjusted up on strong hatchery data and recent production trends. Broiler exports for 2022 are adjusted up accordingly. The wholesale broiler price forecast is adjusted down in the fourth quarter of 2022 on strong production and recent price trends. Table-egg production forecasts for 2022 and 2023 are revised downward as the current Highly Pathogenic Avian Influenza (HPAI) outbreak continues to impact the sector. Wholesale egg price (New York, grade A, large) forecasts for the fourth quarter and next year are revised up. Egg export and import forecasts for 2022 and 2023 are revised downward on lower-than-expected trade data. Turkey production is adjusted downward in the fourth quarter and the first half of next year on additional HPAI cases. Turkey imports and exports are both adjusted upward, though the export forecast remains well below last year. Turkey price forecasts are adjusted upward on recent price data and lowered production forecasts.

Outlook For 2022 and 2023 Meat Exports Mixed

The figure below compares the forecasts for the exports of turkey, beef, pork, and broilers for 2022 and 2023. Forecast turkey exports increase by 8 million pounds from 2022 to 2023, an increase of 1.8 percent; broiler exports are expected to increase by 158 million pounds, or 2.2 percent. Both beef and pork exports are expected to decline between 2022 and 2023. Beef exports decline the most on both a percentage and absolute basis. Forecast beef exports decline by 472 million pounds, or 13.3 percent. Forecast pork exports decline by 129 million pounds, 2.0 percent lower than 2022.

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