Outlook: US poultry, egg prices expected to remain stable
Turkey prices projected to fall over next 10 years
12 August 2024
2 minute read
By: Production volatility during the pandemic and the 2022–23 HPAI outbreak affected US prices poultry producers received, according to recent USDA ERS market report, Long-Term Growth Projected as US Poultry and Egg Sector Recovers.
However, prices for each of the major poultry products are expected to be stable through the 10-year projection period as steps to prevent further outbreaks continue.
Farm prices (prices received by producers, which are typically lower than those paid by consumers at the retail/supermarket level) for eggs peaked in 2022 at $2.39 per dozen but are projected to remain well below this mark and are not expected to exceed $1.50 per dozen throughout the projection period. Not adjusting for inflation, egg prices are forecast to reach $1.49 per dozen by 2033. Farm prices for broilers are projected to decline through 2028, falling to a low of $0.71 per pound before beginning a steady climb and reaching $0.75 per pound by 2033. Broiler prices peaked in 2022 at $0.85 per pound.
Declining per capita domestic consumption of turkey meat combined with higher production, leading to a steady but slow fall in turkey prices throughout the projection period. Farm prices for turkey, which reached a high of $1.07 per pound in 2022, are expected to fall to $0.96 in 2025 and continue to decline to $0.91 by 2033. Although turkey prices are projected to fall over the period, they are expected to remain higher than pre-2022 levels.
