December 23, 2022

 

Value of poultry production in Mississippi state, US at US$3.8 billion

The Mississippi State University (MSU) Extension Service said the estimated value of production for the state's poultry in 2022 was US$3.8 billion, 48% up compared to 2021's record output value of US$2.6 billion, WJTV reported.

 

Josh Maples, agricultural economist at the the MSU Extension Service, said stronger prices are the key reason behind the higher value of production.

 

He said while broiler prices have increased by almost 40%, broiler production is predicted to be slightly lower than in 2021. This means the state will probably produce less when the final 2022 figures are calculated, and the higher prices result in a significant increase in the total value of production.

 

He also said this year, egg prices are more than double what they were on average in 2021. Of the total, broilers account for nearly US$3.3 billion, while eggs account for the remaining US$572 million.

 

Officials said producers were able to pay for high feed and other input costs thanks to higher market prices.

 

Mark Leggett, president of the Mississippi Poultry Association, said the price for corn and soy has been high this year, which was less of a factor in the first three quarters, but the feed costs have not come down as the prices for chicken have fallen.

 

Legget said late in the year, wholesale market levels are significantly below costs. The markets reached their peak in the spring and have since been declining.

 

Maples said chicken has been in high demand from consumers overall in 2022. However, he said that he does not anticipate that 2022's figures will hold true the following year, as inflation and the rising cost of corn and soy continue to worry industry professionals.

 

The current USDA forecast showed broiler prices will fall by about 7% in 2023, resulting in a lower production value. He said from the prices seen in 2022, egg prices are anticipated to decline back to more typical levels, all this a part of the general environment of inflation that is impacting the cost of almost everything.

 

In Mississippi state, poultry has topped the list of agricultural products for 28 years running.

 

-      WJTV