NAICS 112330 Quarterly Industry Report
Turkey Production
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 112330Sector: Agriculture, Forestry, Fishing and Hunting (11)Updated: Q1 2026
About This Report
This Fair Market Value industry report (NAICS 112330) provides valuation-focused intelligence for professionals assessing turkey production businesses. Additional data is drawn from Bureau of Labor Statistics[5], U.S. Census Bureau[6].. Data is sourced from USDA NASS poultry production reports[3], USDA ERS turkey sector analysis[4], and SBA size standards[7] to support business appraisals, acquisition due diligence, lending decisions, and investment analysis for turkey production enterprises.
Industry Definition & Overview
Turkey Production (NAICS 112330) encompasses establishments primarily engaged in raising turkeys for meat production, including both breeder operations that maintain breeding flocks and grow-out operations that raise market-weight birds for processing. The USDA National Agricultural Statistics Service[3] reported U.S. turkey production at nearly 6.6 billion pounds in 2024, with total production value exceeding $3.6 billion. Production has been significantly affected by highly pathogenic avian influenza (HPAI) outbreaks, which caused widespread flock depopulations and reduced inventory levels across major producing states.
Minnesota and North Carolina dominate U.S. turkey production, collectively accounting for a substantial share of national output. Similar to broiler production, the turkey industry operates through vertical integration, with major companies controlling breeding, hatching, feed milling, grow-out coordination, processing, and marketing. Contract growing arrangements are common, though some independent turkey farms continue to operate. The USDA Economic Research Service[4] tracks industry economics including production costs, wholesale pricing, and trade flows. Average wholesale prices for frozen whole turkey hens dropped to $0.94 per pound in 2024 from $1.40 in 2023, reflecting supply recovery and shifting consumer purchasing patterns.
Business valuations for turkey operations must assess grow-out facility capacity and condition, biosecurity infrastructure quality, integrator contract terms and remaining duration, breeding flock genetics, proximity to processing facilities, and environmental permit compliance. Turkey production facilities differ from broiler houses in size, ventilation requirements, and equipment specifications, making industry-specific comparable data central to accurate appraisals.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for turkey production operations
- Revenue and profitability analysis across integrated and contract grower turkey production models
- SBA size standard classification and lending threshold data for NAICS 112330
- Comparable transaction data from recent turkey farm sales, facility acquisitions, and company transactions
- Production volume and pricing trend analysis tracking wholesale turkey market conditions
- Workforce and labor cost benchmarking for turkey farm operators, flock technicians, and processing staff
- Industry risk assessment including avian influenza impact, seasonal demand patterns, and pricing volatility
- Biosecurity and disease management compliance overview covering HPAI preparedness and response protocols
- Capital expenditure profiles for grow-out barns, ventilation systems, feed delivery, and water infrastructure
- Production efficiency metrics including feed conversion ratios, livability rates, and processing yields
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Agriculture, Forestry, Fishing and Hunting | 11 |
| Subsector | Animal Production and Aquaculture | 112 |
| Industry Group | Poultry and Egg Production | 1123 |
| NAICS Industry | Turkey Production | 11233 |
| National Industry | Turkey Production | 112330 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 311615 | Poultry Processing | Poultry processing establishments that slaughter, debone, and package market-weight turkeys produced by contract growers and integrated operations |
| 112340 | Poultry Hatcheries | Poultry hatchery operations that supply day-old turkey poults to integrators for placement with contract growers in grow-out facilities |
| 311119 | Other Animal Food Manufacturing | Other animal feed manufacturing operations producing specialized turkey starter, grower, and finisher rations for poultry production systems |
| 112320 | Broilers and Other Meat Type Chicken Production | Broiler chicken production operations that share poultry industry infrastructure, feed supply networks, and veterinary service provider relationships |
| 424440 | Poultry and Poultry Product Merchant Wholesalers | Poultry and poultry product merchant wholesalers distributing processed turkey products from integrators to retail and food service channels |
| 424510 | Grain and Field Bean Merchant Wholesalers | Grain and grain product merchant wholesalers supplying corn, soybean meal, and other feed ingredients for turkey ration formulation programs |
SBA Lending Summary
8
Total SBA Loans
$17.3M
Total Loan Volume
$2.2M
Average Loan Size
21 yrs
Average Loan Term
8.50%
Average Interest Rate
16
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[2]
Key Insight: The SBA[8] classifies Turkey Production (NAICS 112330) with a size standard of $3.5 million in average annual receipts. Contract turkey growers typically fall within this threshold due to their fee-based compensation structure, while larger integrated operations often exceed it. Qualifying operations gain access to SBA-backed lending[9], government contracting preferences, and USDA agricultural support programs. Eligible businesses can access SBA 7(a) loans[10] for working capital, equipment, and acquisition financing, while 504 loans[11] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Live Oak Banking Company | 8 | $17.3M | $2.2M |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for turkey production?
Turkey Production is classified under NAICS code 112330, covering establishments primarily engaged in raising turkeys for meat production, including both breeder flock and market bird grow-out operations.
What is the SBA size standard for turkey production?
The SBA[8] sets the size standard for NAICS 112330 at $3.5 million in average annual receipts, qualifying eligible turkey production operations for small business lending programs and contracting preferences.
How large is U.S. turkey production?
The USDA NASS[3] reported U.S. turkey production at nearly 6.6 billion pounds in 2024, with total production value exceeding $3.6 billion, though output has been impacted by avian influenza outbreaks in recent years.
How has avian influenza impacted turkey production?
Highly pathogenic avian influenza (HPAI) outbreaks have caused millions of turkey depopulations, reducing production capacity and driving up replacement costs. USDA APHIS[12] monitors outbreak activity, and biosecurity compliance is now a critical factor in turkey farm valuations.
Which states lead in turkey production?
Minnesota and North Carolina rank as the top turkey-producing states per USDA NASS[3] data, with Minnesota producing 32 million turkeys and North Carolina producing over 27 million in 2024.
What factors drive turkey farm valuations?
Key valuation drivers include grow-out barn capacity and condition, ventilation and environmental control systems, biosecurity infrastructure, integrator contract terms, proximity to processing plants, and environmental permit compliance per EPA[13] CAFO standards.
How does turkey production differ from broiler production?
Turkey grow-out requires larger houses with different ventilation specifications, longer production cycles (14 to 20 weeks versus 6 to 8 weeks for broilers), and specialized handling equipment. Market demand is more seasonal, peaking around Thanksgiving and winter holidays.
What are the primary costs in turkey production?
Feed costs represent the largest expense at roughly 60% to 70% of total production costs, followed by poult placement costs, labor, utilities, bedding, and veterinary and health programs per USDA ERS[14] cost-of-production tracking data.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [3]USDA National Agricultural Statistics Service nass.usda.gov
- [4]USDA Economic Research Service ers.usda.gov
- [5]Bureau of Labor Statistics bls.gov
- [6]U.S. Census Bureau census.gov
- [7]SBA size standards sba.gov
- [8]SBA sba.gov
- [9]SBA-backed lending sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]504 loans sba.gov
- [12]USDA APHIS aphis.usda.gov
- [13]EPA epa.gov
- [14]USDA ERS ers.usda.gov
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