News

USDA lowers most meat production estimates

The USDA has raised its 2021 beef production outlook, while cutting the guesses for pork, broilers, and turkeys.

Beef is seen at 27.832 billion pounds, up 90 million on the month due to expectations for higher cow slaughter and heavier carcass weights, with an average steer price of $121.06 per hundredweight, down $1.14, steady exports, and higher imports and consumption.

Pork is estimated at 27.674 billion pounds, a decline of 92 million, on a projected slower fourth quarter slaughter, with an average barrow and gilt price of $69.45 per hundredweight, $.45 lower, and a big drop in exports, along with higher imports and consumption.

Broiler production is pegged at 44.724 billion pounds, 50 million less than September because of hatchery and slaughter data, with an average price of $.984 per pound, a penny lower, and higher imports and exports against lower consumption.

Turkey production is expected to be 5.609 billion pounds, down 20 million due to hatchery and slaughter numbers, with an average price of $1.216 per pound, four tenths of a cent higher, lower exports, and steady imports and consumption.

The USDA’s next set of supply, demand, and production numbers is out Tuesday, November 9^th at Noon Eastern/11 Central.