The price of turkey is 73 percent higher than last year, likely due to the ongoing spread of bird flu across the U.S reports CNBC. The average price per pound of an 8- to 16-pound turkey is $1.99, up from $1.15 last year, according to USDA data.
This year alone, 47.6 million birds have been affected, and the virus has been found in 42 states. In an effort to control the flu, growers often cull entire turkey flocks. Between January and July of this year, 5.4 million birds were culled.
“These viruses are occurring with a higher level of frequency,” Walter Kunisch, a senior commodities strategist at Hilltop Securities said. “It seems like this year the HPAI [Highly Pathogenic Avian Influenza A] is more acute. It’s certainly more widespread in terms of the geography.”
The fallout from the virus is further compounded by inflation: turkey feed prices have increased by over 10 percent between August 2021 and August 2022, and labor costs continue to rise. Although there is a chance suppliers will add turkeys to the market just in time for the holiday season, experts advise not to count on it. Full Story
Related: Rembrandt Enterprises Culls 5.3 Million Chickens to Contain Flu; Drying Mississippi River Impacts Supply Chain