USDA hikes beef, pork, chicken production

News

USDA hikes beef, pork, chicken production

The USDA has raised its’ 2020 production outlooks for beef, pork, and chicken as slaughter capacity rises following closures related to COVID-19.

Beef is pegged at 26.674 billion pounds, up nearly a billion from May, with an average steer price estimate of $108.60 per hundredweight, compared to $104.10, an increase in imports, but a bigger increase in exports, and higher per capita consumption.

Pork is seen at 27.766 billion pounds, about 300 million above last month, with an average barrow and gilt price of $42.40 per hundredweight, compared to $43.10, and a higher consumption estimate.

Chicken production is expected to be 44.037 billion pounds, just over a quarter million larger than a month ago, with an average price of $.699 per pound, lower imports and higher consumption.

Turkey is projected at 5.769 billion pounds, down slightly on the month, with an average price of $1.049 per pound and fractionally lower consumption.

The USDA’s next set of supply and demand estimates is out July 10th.

Email this to someone

email

Share on Facebook

Facebook

Tweet about this on Twitter

Twitter

Print this page

Print

.