Forecast - Lower egg prices, more chickens in 2024

Feb 22, 2024

By Farms.com

In its eagerly anticipated Chickens and Eggs report, the USDA presents a forecast that spells good news for the poultry industry in 2024. The report predicts a 1.4% rise in egg production, totaling 96 billion eggs, alongside a modest 1% increase in the chicken population, underscoring a potential for growth amidst the agricultural sector's broader struggles.

This positive outlook arrives as the industry grapples with decreasing farm numbers and challenges such as the effects of high path avian influenza, which continues to impact poultry. Despite these obstacles, poultry stands out for its growth potential, contrasting with shrinking inventories in other protein sectors.

With egg prices expected to drop to an average of $1.83 per dozen, consumers may find some relief at the grocery store. This forecast is crucial for market analysis and strategic planning, especially given the forthcoming farm bill, which aims to bolster the agricultural sector's resilience by providing crucial support to farmers.

The significance of sustaining the agricultural industry cannot be overstated, with the report and the 2022 Census of Agriculture emphasizing the need for policies that ensure the continuity and prosperity of farming.

As the sector faces transformative challenges, the focus on securing a stable, affordable food supply through the farm bill and other measures is vital for both the national economy and global food security.

Video: Evolution of Beef Cattle Farming

The Clear Conversations podcast took to the road for a special episode recorded in Nashville during CattleCon, bringing listeners straight into the heart of the cattle industry. Host Tracy Sellers welcomed rancher Steve Wooten of Beatty Canyon Ranch in Colorado for a wide-ranging discussion that blended family history and sustainability, particularly as it relates to the future of beef production.

Sustainability emerged as a central theme of the conversation, a word that Wooten acknowledges can mean very different things depending on who you ask. For him, sustainability starts with the soil. Healthy soil produces healthy grass, which supports efficient cattle capable of producing year after year with minimal external inputs. It’s an approach that equally considers vegetation, animal efficiency, and long-term profitability.

That philosophy aligned naturally with Wooten’s involvement in the U.S. Roundtable for Sustainable Beef, where he served as a representative for the Colorado Cattlemen’s Association. The roundtable brings together the entire beef supply chain—from producers to retailers—along with universities, NGOs, and allied industries. Its goal is not regulation, Wooten emphasized, but collaboration, shared learning, and continuous improvement.