Now that we've examined the number, weight and average weight per bird for the turkeys produced for consumption in 2006, it's time to turn our attention to the financial health of the U.S. turkey-industrial complex using data from the National Turkey Federation's web site!
In brief, for U.S. turkey producers, 2006 was the best year ever, the best year since 1997, and the best year since 1999!
How is all that possible at the same time? We'll show you! First, we'll begin with the evidence that 2006 was the best year ever for domestic US turkey producers. The following chart shows the total income taken in by U.S. turkey farms from 1990 to 2006:
Clearly, at 3.55 billion USD in 2006, the total amount of income taken in by U.S. turkey producers has never been greater, as this value is 320 million USD greater than the previous record set in 2005. It's the best year ever, that is, until we take inflation into account. The next chart does just that, converting each of the total income values for each year from 1990 through 2006 into constant 2006 U.S. Dollars:
As the chart confirms, at 3.55 billion USD, 2006 was the best year ever since 1997 came in at 3.62 billion USD! Regardless, 2006 is still well behind the all-time inflation-adjusted record income set in 1996 at 4.02 billion USD.
But how much money is the U.S. consumer giving to the U.S. turkey producer for each pound of Ready-To-Cook (RTC) Inspected turkey they buy? The next chart reveals the U.S. turkey producer's cut from each of a pound of RTC turkey sold in the U.S. from 1990 through 2006:
And here, we see that pound for pound, U.S. turkey producers are getting the most they've gotten from U.S. consumers since 1999! Still, the average 62 cents per pound they received in 2006 isn't quite up at the 64 cents per pound they realized back in 1999, but it is definitely trending upward. Then again, it's a far cry from the highway robbery days of 1990 when turkey producers collected an average inflation-adjusted 81 cents per pound from turkey desperate U.S. consumers.
And as you can now see, 2006 was simultaneously the best year ever, the best year since 1997 and the best year since 1999 for U.S. turkey producers. We hope that's all clear now!
Labels: turkey
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