{"id":19650,"date":"2023-12-21T14:02:10","date_gmt":"2023-12-21T14:02:10","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19650"},"modified":"2023-12-21T14:06:29","modified_gmt":"2023-12-21T14:06:29","slug":"mississippi-posts-8-8-billion-agricultural-returns-buoyed-by-poultry-soybeans","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/12\/21\/mississippi-posts-8-8-billion-agricultural-returns-buoyed-by-poultry-soybeans\/","title":{"rendered":"Mississippi posts $8.8 billion agricultural returns buoyed by poultry, soybeans"},"content":{"rendered":"\n

Despite a value decline of 10.3%,  Mississippi\u2019s agriculture still managed to post its second biggest returns ever of $8.8 billion<\/u><\/a> in 2023. <\/p>\n\n\n\n

Poultry took the worst beating, losing 23% from 2022 but still emerged the state\u2019s champ in value, raking in $3.1 billion. Soybeans, on the other hand, banked on biodiesel demand to emerge first among crops. The pricing status of soy in 2022 retained in 2023 despite a few drops during the\u00a0fall harvest<\/u><\/a>\u00a0due to supply increment.\u00a0<\/p>\n\n\n\n

Poultry\u2019s Bittersweet Value<\/strong><\/strong><\/h3>\n\n\n\n

For poultry, poor market prices were responsible for the inability to reach the $3.9 billion value of 2022. The fall in market prices cut through chicken, broiler and eggs.<\/p>\n\n\n\n

Broilers lost by 22% from 2022 to a value of $2.9 billion while eggs shed 30% to $202 million. <\/p>\n\n\n\n

Production, however, helped the sector maintain momentum despite avian flu disruptions and high feed costs of 2023. Producers raised\u00a04.3 billion live pounds<\/u><\/a>\u00a0of broilers between January and December, edging Mississippi to the 6th<\/sup>\u00a0position nationwide.\u00a0<\/p>\n\n\n\n

Counterbalancing broiler production was a severe fall in egg value due to minimal pricing though production was nearly similar to 2022\u2019s. The 2023 price range per dozen has been a mere\u00a0$1 to $1.30<\/u><\/a>, per the United States Department of Agriculture (USDA).<\/p>\n\n\n\n

It is impressive that poultry in Mississippi has edged other sectors in returns despite a host of problems in 2023. First there was an outbreak of avian flu (HPAI strain) and then laryngotracheitis (ILT), causing losses for poultry companies.\u00a0<\/p>\n\n\n\n

On top of that, ripple effects from high pellet prices put pressure on a sector already experiencing low prices.<\/p>\n\n\n\n

Soybeans Rebound<\/strong><\/strong><\/h3>\n\n\n\n

Apart from poultry, soybeans also helped rally Mississippi\u2019s second best returns on record after those of 2022.<\/p>\n\n\n\n

The soybean crop came second with postings worth $1.6 billion to forestry\u2019s near match of $1.5 billion.<\/p>\n\n\n\n

Soybeans\u2019 rally<\/u><\/a> comes from strong prices, buoyed by demand for soymeal to make plant-based biofuel<\/u><\/a>. Prices for Mississippi\u2019s number one row crop in 2022  rose to $14.40 a bushel from the $13.25 bushel <\/u><\/a>for 2021. <\/p>\n\n\n\n

The price on December 20, 2023 in Mississippi markets for soybeans was between $12.71 and $13.34 <\/u><\/a>per bushel.<\/p>\n\n\n\n

In short, Mississippi\u2019s agriculture enjoys returns with a wide distribution range. This range has distributed risks evenly and helped meet the state\u2019s second best ever production posting. <\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a value decline of 10.3%,  Mississippi\u2019s agriculture still managed to post its second biggest returns ever of $8.8 billion in 2023.  Poultry took the worst beating, losing 23% from 2022 but still emerged the state\u2019s champ in value, raking in $3.1 billion. Soybeans, on the other hand, banked on biodiesel demand to emerge first among crops….<\/p>\n","protected":false},"author":3,"featured_media":19651,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nMississippi posts $8.8 billion agricultural returns buoyed by poultry, soybeans - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/12\/21\/mississippi-posts-8-8-billion-agricultural-returns-buoyed-by-poultry-soybeans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mississippi posts $8.8 billion agricultural returns buoyed by poultry, soybeans - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Despite a value decline of 10.3%,  Mississippi\u2019s agriculture still managed to post its second biggest returns ever of $8.8 billion in 2023.  Poultry took the worst beating, losing 23% from 2022 but still emerged the state\u2019s champ in value, raking in $3.1 billion. 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