News
USDA raises beef production guess, lowers pork
The USDA has increased expectations for beef and turkey production, but cut outlooks for pork and broilers.
Beef was up 20 million pounds from August at 27.048 billion on higher slaughter projections, with the average steer price holding at $107.30 per hundredweight, higher imports, steady exports, and a slight rise for consumption.
Pork was down 100 million pounds on the month at 28.237 billion because of the slaughter pace and live weights, with an average barrow and gilt price of $39.40 per hundredweight, $1.30 higher, steady imports and exports, and slightly lower consumption.
Broiler production was reduced by more than 110 million pounds to 44.552 billion on hatchery data, with an average price of $.709 per pound, a half cent higher, steady imports, unchanged exports, and modestly lower consumption.
Turkey was hiked 20 million pounds to 5.708 billion because of hatchery numbers, with an average price of a $1.058 per pound, three tenths of a cent lower, higher imports, steady exports, and slightly higher consumption.
The USDA’s next set of supply and demand estimates is out October 9th.
