USDA hikes most U.S. meat production outlooks
The USDA has increased expectations for 2021 U.S. beef, pork, and broiler production.
Beef came out at 24.54 billion pounds, up 35 million from January because of a faster slaughter pace and heavier weights, with an average steer price of $115 per hundredweight, down $.50, and lower imports against higher exports and consumption.
Pork is pegged at 28.71 billion pounds, 145 million higher due to the processing pace and carcass weights, with an average barrow and gilt price of $50.50 per hundredweight, up $1, steady imports, steady exports, and slightly higher consumption.
Broilers are seen at 44.88 billion pounds, a bump of 10 million mostly on hatchery numbers, with an average price of $.845 per pound, $.035 higher, and unchanged imports, exports, and consumption.
Turkey is projected at 5.725 billion pounds, steady on the month, with an average price of $1.11 per pound, a gain of $.035 on demand expectations, but with lower exports and slightly higher imports and consumption.
The USDA’s next set of supply and demand estimates is out March 9th.