Quantcast
Connect with us

Turkey shortage means Thanksgiving dinner shopping prices will go up: analysts

Published

on

Fewer turkeys in U.S. warehouses in September will likely mean slightly higher prices this Thanksgiving after a bird flu outbreak wiped out more than nine million turkeys, experts said after the government monthly cold storage report on Thursday.

Frozen turkey stocks in September totaled 268.0 million lbs, down 21.3 million from August and 29.2 million less than September 2014, based on the U.S. Department of Agriculture data.

ADVERTISEMENT

Total hens, the centerpiece of most Thanksgiving meals, last month at 130.1 million lbs, dropped 30 million lbs from August and 25 million from last year. Typically, over a five-year period, turkey stocks on average declined 11 million lbs from the end of August to Sept. 30.

Based on the five-year average, it was a record withdrawal for September, said independent market analyst Bob Brown. Last month’s turkey drawdown was more-than-normal, even as product is usually taken out of freezers beginning in September for the winter holidays.

Still, Brown was reluctant to declare the supply reduction a “shortage,”, which he said will be dictated more by how much consumers are willing to pay and whether they will turn more to another holiday staple, hams.

“There won’t be as many turkeys as last year, but a shortage means you can’t get them which is not the case. But, the prices you pay may be higher.”

ADVERTISEMENT

Dan Vaught, an economist at Doane Advisory Services, said turkey supplies undoubtedly will be tighter than last year.

But, he said, gauging overall turkey output over the next month is difficult as some processors feverishly ramp up production to mitigate losses from the virus.

“I’d be pretty surprised if retail turkey prices are as low this year as a year ago,” said Vaught.

ADVERTISEMENT

As the turkey industry braces for the potential of another round of bird flu this winter, their rival saw record amounts of ham and pork on ice after bouncing back from a virus that killed millions of pigs since March 2013.

September pork inventories totaled 656.4 million lbs, a record-high for the month. It eclipsed 2012’s 630.4 million September top and was the fourth straight monthly record.

Ham stocks last month last month at 247.4 million lbs hit an all-time high for any month, surpassing the August record of 237.5 million.

ADVERTISEMENT

Brown partly attributed September’s pork and ham storage records to increased hog numbers and sluggish ham exports to Mexico.

(Reporting by Theopolis Waters; Editing by Tom Brown)


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Ex-FBI official urges Trump whistleblower to call the Bureau and report a ‘crime’ occurred

Published

on

The whistleblower at the heart of President Donald Trump's scandal involving Ukraine and Rudy Giuliani may need to call the FBI and report a crime, a former top official at the Bureau explained on MSNBC on Friday.

Frank Figliuzzi, the former assistant director for counterintelligence at the FBI, was interviewed by MSNBC's Nicolle Wallace on Friday shortly after The Wall Street Journal published a bombshell report that Trump personally pressured Volodymyr Zelensky eight times to work with Giuliani for oppo research on Joe Biden's son, Hunter.

Continue Reading

Breaking Banner

Trump ‘specifically pressured the president of Ukraine’: WSJ reporter explains bombshell report

Published

on

MSNBC anchor Nicolle Wallace on Friday interviewed one of the reporters behind a bombshell story on President Donald Trump and his interactions with Ukraine that are at the center of the whistleblower scandal.

"President Trump in a July phone call repeatedly pressured the president of Ukraine to investigate Democratic presidential candidate Joe Biden ’s son, urging Volodymyr Zelensky about eight times to work with Rudy Giuliani, his personal lawyer, on a probe, according to people familiar with the matter," The Wall Street Journal reported.

Continue Reading
 

Facebook

Images from global climate strikes show city streets packed with millions of people

Published

on

This Friday, millions of people around the world are skipping school and work to demand action on climate change. According to reports, "global climate strikes" are currently taking place in over 150 countries, all designed to take place ahead of the opening of the United Nations General Assembly and the Climate Action Summit this coming Monday.

Images coming out of New York City alone show the massive scale of the protests. Tweeting from the NYC march, climate activist Greta Thunberg said that "lower Manhattan is absolutely packed with people."

Continue Reading
 
 
Help Raw Story Investigate and Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image