USDA report points to plentiful holiday turkeys

There should be plenty of turkeys for this year's U.S. Thanksgiving holiday, as the U.S. Agriculture Department on Monday reported the largest supply in five years, an amount that should mean low turkey prices for the November holiday, livestock analysts said, reported Reuters.

Whole turkeys in warehouses totaled 316.1 million lbs at the end of August and frozen turkey parts were about 310 million lbs. The most since 2003.

Total turkey stocks, includes whole turkeys and turkey parts, were up 1 percent from last month and up 19 percent from a year ago.

"I suspect retailers are going to concentrate heavily on turkeys for the holiday season so I believe consumers will find good bargains for turkeys this year," said Dan Vaught, livestock analyst at Wachovia Securities.

But hams, another big holiday item, may not see the same retailer push that turkeys may receive. Despite fairly large supplies, hams have carried higher prices this year.

The supply of hams rose 10.3 million lbs in August to 141.5 million lbs, according to USDA. While down from last year's 149.1 million lbs, it topped the 10-year average of 120.4 million.

But few ham bargains are expected during the holidays because of this year's higher prices.

"Hams at Christmas may be a different story. Even though supplies are relatively high, the grocers are not going to be very aggressive in pursuing hams for the Christmas holiday so I see few bargains for them at that time," said Vaught.

"This price strength we have seen recently in the hams has largely been export driven and it (price) runs a real danger of essentially stifling holiday demand for hams, particularly with turkeys much more plentiful and cheaper," said Vaught.

Total pork supplies slipped to about 482.8 million lbs at the end of August from the 491.4 million lbs in July, USDA said. The August number was above the 458.3 million lbs a year earlier.

The total pork supply slipped from July to August despite record production and talk that pork exports were slowing.

"That's one of the things to like about this number - we were very concerned we were seeing a slowdown in exports. I had expected the August 31 pork in cold storage number to be above the July number," said Ron Plain, agricultural economist at the University of Missouri.

The 26.4 million decline in the pork belly supply from July to August to 31.8 million lbs was larger than the 10-year average decline for that period -- 16.8 million lbs.

Expectations are for steady to 0.25 cent per lb higher lean hog contracts on Tuesday and 0.250 to 0.500 cent higher pork belly futures following the USDA report.

Belavia resumes regular flights from Baku to Minsk in early December
Belavia resumes regular flights from Baku to Minsk in early December
Iranian tourists reduce visits to Turkey amid COVID-19 pandemic
Iranian tourists reduce visits to Turkey amid COVID-19 pandemic
Turkey sees decline in inflow of Azerbaijani tourists over 10M2020
Turkey sees decline in inflow of Azerbaijani tourists over 10M2020
Loading Bars
Latest
Turkey reports over 29,000 new coronavirus cases
813 more coronavirus cases recorded in Kazakhstan over 24 hours
Kazakhstan increases export to Greece despite COVID-19
World Bank to help Ukraine purchase COVID-19 vaccines
Sweden to reach COVID-19 peak in two weeks: forecast
Imports of fuels and lubricants up to Georgia
Trump says will leave White House if Electoral College votes for Biden
Moscow documents 77 deaths from COVID-19 in past 24 hours
WHO urges African states to strengthen readiness for COVID-19 vaccine
UK records another 17,555 coronavirus cases with 498 cases
China calls for healthy, stable military ties with U.S.
Italy reports 29,003 new coronavirus cases, 822 deaths - health ministry
Russia's Sputnik V developers call on AstraZeneca to try combining vaccines
Paris does not recognize so-called "Nagorno-Karabakh Republic" - Foreign Ministry
Recovery of oil prices has positive impact on Kazakhstan’s external balances - IHS Markit
Group of German medical experts arrives in Kyrgyzstan to fight COVID-19
Georgian NCDC Head urges people over 70 to stay at home except in necessary circumstances
Iran, Russia to cooperate on COVID-19 vaccine development
Bitcoin price down 12.7%
Armenian eco-terror in Karabakh constitute serious threat to peace and security in region - opinion
Hungary, Poland double down to try to eject rule-of-law condition from EU budget
Over 3,500 coronavirus-related deaths recorded in Moscow in October
Belavia resumes regular flights from Baku to Minsk in early December
Iran hopes Kish-Istanbul-Abadan flights to improve its trade
Kazakhstan Railways opens tender to buy welding equipment
Georgia to support businesses amid new coronavirus restrictions
WB extends deadline for implementation of agricultural project in Azerbaijan
Turkey steps up inspections as coronavirus pandemic figures climb
Cavushoglu and Stoltenberg discuss situation in Karabakh
Swedish royals test positive for COVID-19
England reveals new regional COVID tiers in fight against coronavirus
Azerbaijani gymnasts reach finals of 36th European Championship in Ukraine
Georgia continues to support its citizens amid COVID-19 pandemic
News on return of Azerbaijani soldier captured by Armenians false, relative says
Azerbaijan sends note of protest to France
Ample opportunities for investments to be created in Karabakh – minister
Azerbaijani's negotiations with UAE on renewables nearing completion
Kazakhstan, Mongolia eye signing roadmap for trade, economic co-op
Russia bans import of tomatoes from Uzbekistan’s Fergana region
36th COMCEC session opens under chairmanship of Turkish president (PHOTO)
Uzbek Ministry of Finance publishes draft law on increasing taxes on gasoline, diesel
Russian Gazprombank predicts Azerbaijan's economic recovery in 2021
iPhone 12 Pro Max and iPhone 12 Mini now at Azercell Exclusive shops!
Iran becomes self-sufficient in building oil, gas platforms
Cotton growing in Azerbaijan hits record - agriculture ministry
Italian municipalities adopt documents expressing solidarity with Azerbaijani people
Uzbekistan to grow industrial cannabis in Sardoba district
Azerbaijan detects 3,705 new COVID-19 cases, 1,609 recoveries
Turkmen Ministry of Construction opens tender for equestrian sports complex construction
Azerbaijani, Saudi FMs exchange views on current situation in Karabakh
Uzbekistan reveals data on its ICT sphere enterprises and organizations
Azerbaijan to export persimmons to Slovakia and Czech Republic
Level of religious tolerance in Azerbaijan is much higher than in France - ISESCO ex-director
Kazakhstan's exports to Switzerland decrease year-on-year
Azerbaijani medical insurance agency signs contract with tender-winning IT company
Resolution adopted by French Senate must be canceled – Azerbaijani NGO head
Volume of Turkish textile clothing supplies to Kazakh market surges
Latvian AirBaltic cancels Riga-Tbilisi-Riga flights
Reconnaissance work completed within Baiterek space complex creation in Kazakhstan
Thermal power plant modernization, other projects underway in Kazakhstan's Karaganda
Georgia imposes further restrictions to curb spread of coronavirus
Georgian carrier to launch regular cargo flights from China to Europe
Russia's Rostelecom expects to develop transit routes through Turkmenistan
Average monthly salary in Azerbaijan's Nakhchivan rises
Azerbaijani, Afghan FMs discuss latest situation in region
WB, AIIB to fund rural infrastructure development in Uzbekistan
Azerbaijani, Indonesian FMs stress importance of trilateral ceasefire statement
Austria fully supports Uzbekistan obtaining of EU’s GSP beneficiary status
Turkmenistan's Dashoguz region opens tender for installation work
France not part of Karabakh settlement, but part of problem - Turkish defense minister
Japanese companies to provide technical support for terry production in Uzbekistan
Germany's hotspot district to launch COVID-19 mass tests for children
Yield of citrus fruits in Azerbaijan up
Capital of Kazakh companies operating in Turkey revealed
Iran boosts its pistachio exports
World Economic Forum announces Azerbaijan's road quality score
Share of assets in Azerbaijani banking sector declines
Kazakhstan eyeing amending legislation to support renewable energy dev't
Georgian Hualing Free Industrial Zone plans to finalize deal with 4 new companies
Mortgage lending in Azerbaijan through state line grows manifold
Kazakhstan to launch hundreds of industrial projects before year-end
Azerbaijani ICT company wins tender on purchase of licenses
Central Bank of Azerbaijan discloses data from foreign exchange auction
Employment in Iran's West Azerbaijan Province increases
Buta Airways to Increase the Frequency of Flights Performed to Izmir
Azerbaijan, Hungary discuss possibilities of attracting investors to liberated territories
Georgian Huliang FIZ offering available land plots to potential investors
Azerbaijani NBCO talks about its activities amid coronavirus
Azerbaijan’s carpet producer signs tender contract
Many members of French Senate unaware war in Karabakh ended (VIDEO)
Number of people infected with coronavirus pandemic in Iran exceeds 900,000
Baku Stock Exchange admits local investment company
Uzbekistan eyes to set up local production of various vaccines
France does not deserve Azerbaijan’s confidence – senator
Bahar Azadi gold coin price still falling in Iran
Bank mortgages in Azerbaijan rise
Full text of Azerbaijani parliament’s statement against French Senate’s resolution
Iran's economy remains strong and steady – Iran's president
Turkmenistan to be vital strategic partner, gas supplier to China long-term - Wood Mackenzie
EDB talks Kazakhstan's economy growth forecast, return to pre-COVID levels
All news