News

USDA cuts pork, turkey outlooks, increases beef, broilers

The USDA has lowered its pork and turkey production expectations, but increased the outlooks for beef and chicken.

Beef production is projected at 28.347 billion pounds, 211 million more than October on the slaughter pace and heavier carcass weights, with an average steer price of $144.15 per hundredweight, up $1, and higher consumption against lower imports and exports.

Pork is pegged at 27.121 billion pounds, 27 million less than last month due to an expected slower slaughter rate, with an average barrow and gilt price of $71.33 per hundredweight, $.25 higher, and a gain in exports versus losses in imports and consumption.

Broiler production is seen at 45.974 billion pounds, 75 million higher due to slaughter and hatchery data, with an average price of $1.409 per pound, down $0.005, along with lower imports, higher exports, and steady consumption.

Turkey production is estimated at 5.188 billion pounds, a decrease of 16 million as the spread of Highly Pathogenic Avian Influenza impacts commercial populations, with an average price of $1.554 per pound, $.025 higher, in addition to bigger imports and exports but with lower consumption.

The USDA’s next set of supply and demand estimates is out December 9^th.