News

Beef, broiler, pork projections up on month

The USDA raised most of its meat production outlooks.

Beef is now seen at 28.006 billion pounds, up 16 million with expectations for a higher second half slaughter canceling out lower carcass weights, with an average steer price of $142.80 per hundredweight, $1.70 higher, and lower imports, along with steady exports and consumption.

Pork is pegged at 27.133 billion pounds, an increase of 55 million due to an anticipated gain the slaughter rate against a loss for carcass weights, with an average barrow and gilt price of $71.30, down $2.50, and lower imports and exports against higher consumption.

Broilers are projected at 45.474 billion pounds, 111 million above a month ago because of the slaughter pace and egg sets, with an average price of $1.434 per pound, down $0.027, with imports steady, exports down and consumption up.

Turkey production is expected to be 5.214 billion pounds, 100 million below last month on slaughter and hatchery data, with an average price of $1.513, unchanged, higher imports, steady exports, and lower consumption.

The USDA’s next set of supply, demand, and production numbers is out October 12^th.