With the demand for poultry meat products on the rise, turkey farming is an intriguing opportunity for many farmers to consider adding to their operations. But before jumping into this arm of poultry production, it is important to take a realistic look at the economics and answer the question, Is Turkey farming profitable?
In this comprehensive guide, we’ll take an in-depth look at the turkey farming industry to help decide if raising turkeys is right for you.
An Overview of the Turkey Farming Industry
Turkey farming plays an important role in the global poultry industry. In fact, turkey is the second most popular poultry meat behind chicken. According to the National Turkey Federation, over 6 billion pounds of turkey were produced in the United States in 2021.
The top turkey producing states are Minnesota, North Carolina, Arkansas, Virginia, and Missouri. But turkey farming occurs throughout the country to meet demand.
Turkey is especially popular during the holiday season. About 88% of Americans eat turkey during Thanksgiving, accounting for about 46 million turkeys consumed each year.
While turkey farming is concentrated in the U.S., it’s also an important industry globally. Leading producers include the European Union, Brazil, and Canada. There’s also a growing market for turkey products in Africa, Asia, and the Middle East.
So what’s driving this demand? Consumers appreciate that turkey provides lean, low-fat protein. Turkey meat is also relatively inexpensive compared to other meats. And new turkey products like deli meats and ground turkey have gained popularity as well.
Turkey farming is an emerging industry in Nigeria that shows promise for future growth. Currently, turkey production is relatively small scale and primarily done on family farms or small commercial operations.
Most farmers in Nigeria raise small herds of local turkey breeds that are well-adapted to the climate, though some larger operations use imported commercial turkey breeds.
There is growing domestic demand for turkey meat as an affordable form of poultry, though turkey farming practices and productivity generally lag behind top global producers.
With infrastructure improvements, training programs, and investment, the turkey farming sector could develop into a thriving commercial industry in Nigeria.
Is Turkey Farming Profitable?
Whether turkey farming is ultimately profitable depends on a variety of factors:
Turkey Pricing
The first key consideration is how much revenue you can get for your turkey meat. Wholesale turkey prices tend to fluctuate year to year. Prices typically peak leading up to the holidays, then decline after Thanksgiving and Christmas.
Long-term, industry experts project relatively stable turkey prices. But farmers must manage through seasonal ups and downs.
You may be able to get premium prices by selling free-range, organic, or specialty turkey products. But these niche markets make up a small portion of the industry.
Input Costs
The cost to raise turkeys includes purchasing poults (young turkeys), feed, housing, labor, utilities, and other farm expenses.
Feed is the largest cost, accounting for about 70% of production costs. So feed efficiency is crucial for profitability. The feed conversion ratio for turkeys ranges from 2.5-3.5 lbs of feed per 1 lb of weight gain.
Housing costs include barns, heating, ventilation, lighting, and equipment. While fixed costs are high, they can be spread over many years.
Labor is another major cost factor. Experienced turkey handlers are essential. Expect to invest in staff training.
Other variable and fixed costs must be carefully managed as well. To maximize profits, farmers need excellent financial planning and cost control.
Production Efficiency
How efficiently you can convert feed into turkey meat greatly impacts profitability. Key factors include:
Genetics: Select breeds that efficiently convert feed and yield well. The standard commercial breeds are the Broad Breasted White and Broad Breasted Bronze.
Housing: Proper housing, temperature control, ventilation and lighting maximize growth.
Flock health: Preventing disease through biosecurity and vaccination keeps birds growing efficiently.
Processing: Use humane handling practices and minimize bruising and downgrades.
With good management in these areas, it’s realistic for turkeys to reach target market weights at 22-32 weeks. The quicker your turkeys gain weight, the more profitable each flock will be.
Financial Benchmarking for Turkey Farms
Industry benchmarks help provide realistic profitability projections for turkey operations. Here are a few key benchmarks for U.S. turkey farms:
Average cost of production per pound: $0.78 – $0.92
Average pounds produced per square foot: 4-5 lbs
Feed conversion ratio: 2.5-3.5
Average net income per square foot: $0.05-0.12
These numbers indicate that efficiently managed turkey farms in the U.S. have the potential to be profitable. Profit per square foot provides one useful metric to compare performance across farms.
However, actual results depend heavily on your local costs, turkey prices, and efficiency. Making an accurate pro forma budget for your individual operation is key.
Major Considerations for Profitable Turkey Farming
Here are some important tips for ensuring your turkey farming operation is as profitable as possible:
Target off-season niches when turkey prices are higher
Lock in feed costs at favorable prices through forward contracting
Benchmark performance and implement the best practices
Invest in quality housing, equipment and labor
Maintain excellent biosecurity and flock health
Market turkeys for maximum returns and minimize downgrades
Turkey farming certainly isn’t easy. But by making smart management decisions, many turkey producers are able to turn a good profit.
How Turkey Farming in Africa Compares
Turkey farming in Africa makes up just a fraction of global production currently. But the market for turkey meat is rising across Sub-Saharan Africa.
U.S. turkey breeds like the Broad Breasted White can reach weights over 20 lbs in ideal conditions. But these commercial breeds don’t always perform as well in Africa’s climate.
So farmers in Africa often utilize smaller heritage turkey breeds more suited to free-range systems. Popular options include the Black Spanish, Royal Palm, and Bourbon Red.
These heritage turkeys are slower growing, reaching slaughter weights of 10-15 lbs after about 28 weeks. The lower productivity can make profit margins slimmer.
However, some intensive turkey farms in South Africa, Nigeria, and other African countries are seeing good success with commercial breeds. With proper housing and management, these larger turkeys can be quite profitable.
And the growing African middle class presents a strong long-term market opportunity. Plus, turkey provides a lean protein to combat malnutrition.
Overall, the outlook for turkey farming in Africa is promising. But producers must utilize best practices and breed choices to succeed financially.
Getting Started with Turkey Farming
If you think turkey farming may be a good fit, here are a few tips to get started:
Research your local market and consumers
Make a detailed financial plan for your farm
Visit other turkey farms and attend trainings
Start small to test your operations
Consult local experts for guidance
Choose facilities, equipment and breeds carefully
Get quotes from reputable poult suppliers
Line up buyers or join marketing co-ops
It also helps to have experience raising other types of poultry before venturing into turkey production. Hands-on training is invaluable.
Be sure to check local zoning laws and regulations for turkey farms. Also secure financing, as start-up and operating costs can be substantial.
Conclusion
Raising turkeys is complex but can be a profitable business with smart management. Keys to success include low production costs, excellent flock health, and strong market development.
Turkey farming may or may not suit your individual interests, skills, and financial resources. But for many farmers, it provides an attractive opportunity in the growing poultry industry.
Careful research and planning will give you the best shot at running a financially successful turkey operation.
