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2024 Poultry sector outlook: Strong demand supports profitability

Prices in 2024 are expected to be higher year-over-year (YoY) for each poultry subsector (broilers, turkeys and layers) in the East and the West (Table 1), supported by continued strength of demand from households and foodservice sectors.

Despite some headwinds from production slowdowns, high feed costs and a recent change in tariff rate quotas for poultry, broiler operation profitability will be positive throughout the outlook period.

While feed costs have fallen from their highs in 2022, Western canola, representing meal and wheat rations will be pressured by 2023’s drought-limited production. Eastern soybeans may stay elevated with Brazil’s weather challenging production amid strong global demand.

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Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Video: Why Invest in Canada’s Seed Future? | On The Brink: Episode 3

Darcy Unger just invested millions to build a brand-new seed plant on his farm in Stonewall, Manitoba so when it’s time for his sons to take over, they have the tools they need to succeed.

Right now, 95% of the genetics they’ll be growing come from Canadian plant breeders.

That number matters.

When fusarium hit Western Canada in the late 90s, it was Canadian breeders who responded, because they understood Canadian conditions. That ability to react quickly to what’s happening on Canadian farms is exactly what’s at risk when breeding programs lose funding.

For farmers like Darcy, who have made generational investments based on the assumption that better genetics will keep coming, the stakes are direct and personal.

We’re on the brink of decisions that will shape our agricultural future for not only our generation, but also the ones to come.

What direction will we choose?

On The Brink is a year-long video series traveling across Canada to meet the researchers, breeders, farmers, seed companies, and policymakers shaping the future of Canadian plant breeding. Each week, a new story. Each story, a piece of the bigger picture.

Episode 3 is above. Follow Seed World Canada to catch every episode, and tell us: Do you think the next generation will have the tools they need to success when they takeover? How is the future going to look?