Signs point to a tight seasonal turkey market this year: poult placements are down, beef prices have sky rocketed, and consumer optimism is up as the economy grinds into recovery mode.
A drop in feed price should be no reason to keep prices static either, was the consensus at the annual marketing meeting of the Anglian Turkey Association – with many members intending to increase prices by up to 5%.
Chris Dickinson, poultry adviser for the NFU, presented a market outlook that has turned away from the annual members’ survey. Intelligence is now gathered from industry sources and the data will now be benchmarked against other years more effectively.
The outlook revealed that, although feed costs were put at 6.34% down on last year, the overall cost of producing a 5.5kg Christmas turkey was still 0.18% more expensive than last year. This was put down to small increases in everything from energy to insurance costs.
It was also noted that most would not have recovered from the cost of feed continually being hiked in the last two years. Last year the NFU put cost increases at 10% higher than in previous years – but few had increased their turkey prices more than 5%.
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