Forecast - Lower egg prices, more chickens in 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.