US turkey stocks up 17 percent in January
Exports up 15 percent due largely to Mexico, Hong Kong, Canada
The estimate of U.S. turkey stocks at the end of January was 298 million pounds, up 17 percent from 2011 numbers, according to the U.S. Department of Agriculture's latest report.
At the end of January, whole birds stocks were estimated at 109 million pounds, up 30 percent from the same period in 2011. Stock levels also were higher for legs, increasing to 22 million pounds, up 122 percent from 2011 numbers. Stocks of “other” turkey parts increased to 38.5 million pounds at the end of January, 45 percent higher than in 2011.
One exception to these increases was in the stocks of breast meat, which were down 8 percent to 51 million pounds. There were also some small upward revisions to ending turkey stocks for 2011, now estimated at 211 million pounds, up 5 million pounds from the original estimate and 10 percent higher than 2011 numbers.
In January, U.S. turkey product exports totaled 54.7 million pounds, up 15 percent from 2011. Higher shipments to Mexico were a main factor in the increase, totaling 34 million pounds, 17 percent higher than January 2011. Exports were also stronger to both Hong Kong and Canada.
In 2011, total turkey exports were 703 million pounds, up almost 21 percent from 2010, driven by sharp increases to Mexico. In 2011, U.S. turkey exports to Mexico totaled 399 million pounds, up 24 percent from 2010 and equaling 57 percent of all U.S. turkey exports. China and Hong Kong were the second- and third-largest markets for U.S. turkey exports, totaling 83 and 38 million pounds, respectively. Shipments to China were 11 percent higher than in 2010, while shipments to Hong Kong rose by 53 percent. Shipments to both these markets were likely influenced by high duties imposed by China on imports of U.S. broiler products.
For more poultry information and statistics, see www.wattagnet.com/marketdata.html.