Turkey Prices Are Soaring With Bird Flu Hitting U.S. Flocks
(Bloomberg) -- One of the worst-ever outbreaks of avian influenza in the U.S. is pushing up the price of turkey, adding to already rampant meat inflation.
More than 2 million turkeys have been lost so far in the U.S. since the outbreak began in mid-January, according to Steiner Consulting Group, or about half what is typically slaughtered in a week.
“It's been painfully obvious way before avian influenza came into view that supplies of turkey were going to be extremely tight this year,” Russ Whitman, senior vice president at commodity researcher Urner Barry, said Tuesday by phone.
Turkey prices were already high due to disruptions during the pandemic, and now they're set to rise even further. That has buyers already vying for supplies for the U.S. Thanksgiving Day holiday in November that often features a whole turkey as a centerpiece, Whitman said.
Overall, bird flu has been confirmed in flocks comprising over 22 million birds including broilers and egg-laying hens in 24 U.S. states, making it the worst outbreak since the record losses of over 50 million birds in 2015, according to U.S. Department of Agriculture data. In addition to turkey, egg prices in particular have also been rising due to losses from bird flu.
Read more: Bird Flu Impact on U.S. Poultry Exports Is Muted, USDA Head Says
©2022 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
