News

USDA sees higher beef, broiler production

The USDA is projecting higher beef and broiler production.

Beef is estimated at 26.775 billion pounds, 110 million more than in March because of higher placements during the first half of the year, with an average steer price of $164.50 per hundredweight, up $2.50 on the month. Beef imports, exports, and per capita consumption were all above a month ago.

Pork is seen at 27.36 billion pounds, a 50-million-pound cut as a higher first half guess linked to slaughter and pig crop data is canceled out by a lower second half outlook due to farrowing intention expectations based on the most recent Quarterly Hogs and Pigs report. The average barrow and gilt price is estimated at $61 per hundredweight, a drop of $5, with higher imports and exports against steady consumption.

Broiler production is pegged at 46.9 billion pounds due to first half slaughter numbers, 150 million higher, with an average price of $1.305 per pound, up $.035. Broiler imports were slashed on the discovery of Highly Pathogenic Avian Influenza in Chile, but exports were up and consumption was unchanged.

Turkey production is expected to be 5.6 billion pounds, steady on the month, with an average price of $1.715, $.095 higher, a big decrease in imports because of HPAI in Chile, higher exports, and lower consumption.

The USDA’s next supply and demand report is out May 12^th.