News

USDA sees bigger beef, broiler production

The USDA has trimmed expectations for pork and turkey production, while increased outlooks for beef and broilers.

Beef production is pegged at 27.99 billion pounds, up 68 million due to second half slaughter expectations, with an average steer price of $141.30 per hundredweight, $.80 higher, along with higher exports against lower imports and per capita consumption.

Pork is seen at 27.078 billion pounds, down 81 million because of a slower third quarter slaughter pace, with an average barrow and gilt price of $73.80 per hundredweight, a gain of $3, against lower imports, exports, and consumption.

Broilers are estimated 45.363 billion pounds, 68 million higher, on recent production data and fourth quarter projections, with an average price of $1.461 per pound, down $0.068, and lower exports, in addition to higher exports and consumption.

Turkey production is anticipated to be 5.314 billion pounds, 45 million lower due to the year-to-date processing pace and hatchery numbers, with an average price of $1.513 per pound, up $0.035, a big jump in imports, slight rise for exports, and modest cut for consumption.

The USDA’s next set of supply and demand estimates is out September 12^th.