News

USDA beef, pork, broiler projections up on month

The USDA has increased most major meat production outlooks.

Beef is now projected at 28.136 billion pounds, up 130 million from September on higher carcass weights and slaughter expectations for the second half of the year, with an average steer price of $143.15 per hundredweight, $.35 higher, and lower imports against higher exports and consumption.

Pork is seen at 27.148 billion pounds, a gain of 15 million due to the third quarter processing pace, with an average barrow and gilt price of $71.08 per hundredweight, down $.22, with decreased import and exports and increased consumption.

Broilers are pegged at 45.899 billion pounds, 425 million higher because of slaughter, hatchery, and placement numbers, with an average price of $1.414 per pound, a loss of $.02 on the month, and steady exports along with higher imports and consumption.

Turkey production is estimated at 5.204 billion pounds, 10 million lower than last month, which is tied to reports of Highly Pathogenic Avian Influenza, with an average price of $1.529, a gain of $.016, and a cut in exports and consumption against a rise in imports.

The USDA’s next set of meat production projections is out November 9^th.