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USDA trims 2023 pork, broiler production outlooks

The USDA lowered 2023 pork and broiler production estimates while raising beef and leaving turkey unchanged.

Beef production is expected to be 26.495 billion pounds, 50 million more than in January on a higher first quarter slaughter guess against lower carcass weights, with an average steer price of $159 per hundredweight, up $.50, and higher imports with steady exports and consumption.

Pork is pegged at 27.435 billion pounds, 45 million less than last month on lighter carcass weights in the first half of the year, with an average barrow and gilt price of $66.50 per hundredweight, down $1.50, slightly lower consumption, and steady imports and exports.

Broilers are seen at 46.7 billion pounds, a decline of 200 million due to hatchery and slaughter data, with an average price of $1.265 per pound, $.02 lower, and drops for consumption and imports against steady exports.

Turkey is projected at 5.56 billion pounds, unchanged on the month, with an average price of $1.62 per pound, up $.02, with steady imports, slower exports, and higher consumption.

The USDA’s next round of 2023 meat production estimates is out March 8th.

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