Jennie-O Turkey Store to modestly increase production in 2014
Increased turkey production levels will still not equal 2011 levels
After dropping back turkey production in 2012 and 2013 in response to higher feed costs, Jennie-O Turkey Store will increase production in 2014. However, the increases will be modest, and won't quite equal the production levels met in 2011 before Jennie-O turkey production scaled back.
Jeffrey M. Ettinger, chairman of the board, president and chief executive officer of Hormel Foods, said during a quarterly earnings call on November 16 that Jennie-O Turkey Store and is already starting to benefit from lower feed costs. Hormel Foods is the parent company of Jennie-O Turkey Store. Hormel's intent is to reinvest some of its savings from lower turkey feed costs to enhance its sales and promotion of value-added Jennie-O Turkey Store products.
"We do intend to increase production modestly in 2014 to support our value-added needs," said Ettinger.