The animal proteins market was called ‘undefined’ and wide ranging on the combination of excess offerings and the upcoming Thanksgiving holiday.
The spread of Avian Influenza in the U.S. the past two months, diminished export, lower hatchery, the closure of several poultry slaughter plants, as well as the instability of CME soybean meal has led to continued unsettled tones and wide ranges on poultry related items for the fourth quarter. A have-have-not tone has been witnessed the past month with tight inventories.
According to the USDA Animal and Plant Health Inspection Services (APHIS) report, there were 1.37 million birds affected by Avian Flu in October and 2.60 million birds in November. Of the total in November thus far, 51.9 percent was from table egg layers while 33.0 percent was labeled commercial turkey meat birds. The current November total is 93.0 percent above November 2022. (Chart 1 and Fig. 1)
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