Hormel Foods Corp. will increase advertising spend on its turkey portfolio in fiscal 2023 after raising prices in fiscal 2022. Highly pathogenic avian influenza (HPAI) should continue to impact the turkey category negatively in the next fiscal year, but to what degree remains unknown.
The latest reports of highly pathogenic avian influenza (HPAI) bring the current total number of affected birds in the United States well above the estimated record of 50 million birds from the wave in 2015.
Christmas is a big holiday for turkey companies, as consumers buy turkeys for big family meals, and supermarkets do a great job of getting their stores ready for the rush. But in 2022, things are a little different for the category. Just like in the first two pandemic years, it looks like the category may take something of a hit.
Not since 2015 has an outbreak of highly pathogenic avian influenza (HPAI) impacted the commercial poultry industry to such a degree that turkey prices have soared to all-time highs and egg prices have broken record highs three times with a potential to achieve a fourth record before yearend.
Since February, a viscous and enduring stain of the highly pathogenic avian influenza (HPAI) virus has devastated nearly 250 commercial flocks and close to 300 backyard flocks, resulting in the destruction of over 47 million birds, according to the Animal and Plant Health Inspection Service (APHIS) of the US Department of Agriculture.