August 6, 2003

USDA To Help Ease Glut Of Turkey Meat In US

High feed prices, stagnant domestic consumption and disruption in important export markets are causing extreme economic distress in the US turkey industry, which has created a large accumulation of breast meat products in storage facilities, said the National Turkey Federation. 

Therefore, the recent announcement that the USDA will purchase $20 million worth of turkey breast meat will help stabilize turkey market prices and ease a glut in the market.

In a prepared statement, USDA Secretary Ann Veneman said:

"Because the supply of turkey is plentiful this year, we are taking advantage of the opportunity to purchase and share this product with domestic food distribution agencies."

The USDA has already purchased about $11 million in deli turkey breasts in fiscal year 2003. The USDA purchased $13.3 million worth of turkey in fiscal year 2002.