As of August 31st, 2021, inventories of frozen whole turkeys and turkey parts were 24% lower than the three-year average, according to USDA’s Economic Research Service. Stocks of frozen turkey meat typically follow a seasonal pattern, building throughout the year until the fall, when retailers prepare to meet holiday demand.
In 2021, the seasonal build-up was less than usual, and stock volumes appear to have peaked before starting an earlier-than-normal decline. At the end of August, 428.1 million pounds of turkey meat were in cold storage, a 19% decrease from the same month last year, and a decline of about seven million pounds from the end of July 2021. Stocks are lower partly because the production of turkeys is lower than average this year.
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