USDA raised the forecast for total red meat and poultry production in 2013 to 92.27 million pounds. The monthly World Agricultural Supply and Demand Estimates increased beef production to 25.19 million pounds due to heavier carcass weights along with increased cow slaughter in the first quarter. Pork production also raised to 23.44 million pounds because of heavier carcasses. As feed prices moderate, more is being fed.
Broiler and turkey production estimates were raised reflecting more and heavier birds. USDA now predicts 36.9 million pounds of broilers and 5.9 million pounds of turkey will be produced this year.
Beef exports unchanged from last month, restrictions put in place by Russia were offset by Japan raising the age limit on beef imports to 30 months. Pork exports were lowered because of Russian restrictions.