TUCKER, GA. — The US Poultry & Egg Association (USPOULTRY) welcomed industry members to the 2023 Financial Management Seminar, held June 19-21 at the Omni Amelia Island Resort in Fernandina Beach, Fla., where experts covered a range of topics from regulatory updates to cybersecurity to accounting principles in live production and auditing.

Addressing trends in poultry and eggs, Greg Tyler, president and chief executive officer at USAPEEC, provided an update on export metrics and global concerns. Continuing cases of highly pathogenic avian influenza (HPAI) have heavily impacted the state of the poultry industry. However, fewer country-wide bans have occurred as a result of the virus compared to the 2015 outbreak. Tyler attributed the difference to improved regionalization.

As consumers and regulators continue to emphasize sustainability in food production, Andy Rojeski, head of strategy, investor relations and net zero programs at Pilgrim’s Pride Corp., offered a practical approach to sustainability strategies. Rojeski noted the pros and cons of environmental, social and governance (ESG) investing and highlighted the importance of creating a roadmap for tracking sustainability practices.

Another pressing issue for the poultry industry is the threat of cyberattacks. In the past five years, around 157 businesses were known to have been targets for cyberattacks. Trey Stokes, associate director at Alliant Cybersecurity, discussed the need for funding and implementing cybersecurity programs. Companies should be aware of their vulnerabilities and be prepared for threats like ransomware, supply chain attacks, social engineering campaigns and business email compromises.

The Financial Management Seminar invited Brian Earnest, lead animal protein analyst for CoBank ACB, to give an economic update. Earnest said a recession could possibly be on the horizon. He examined interest rate changes and discussed the overall agricultural economy as well as metrics specific to the poultry industry.

“The diverse selection of ‘Experience Sharing Sessions’ ensured that attendees came away with a well-rounded perspective on the most pressing issues facing financial professionals in poultry and egg companies,” USPOULTRY said.