USDA reduces most meat production projections
The USDA has cut 2021 beef, pork, and turkey production estimates, while raising the outlook slightly for broilers.
Beef production is seen at 27.742 billion pounds, down 130 million on the month due to slower steer and heifer slaughter and lighter carcass weight expectations, with an average steer price of $122.20 per hundredweight, up $1.00 from August, higher imports, higher exports, and slightly lower per capita consumption.
Pork was reported at 27.739 billion pounds, 85 million less than last month because of an expected slower slaughter rate during the second half of the year, with an average barrow and gilt price of $69.90 per hundredweight, up $.20 from a month ago, with lower exports against higher imports and consumption.
Broiler production is projected at 44.774 billion pounds, 40 million higher due to recent hatchery and slaughter data, with an average price of $.974 per pound, up $.033, steady imports and exports, and slightly higher consumption.
Turkey production is expected to be 5.629 billion pounds, a decline of 30 million, with an average price of $1.212 per pound, a gain of a penny from a month ago, with slightly lower consumption and unchanged imports and exports.
The USDA’s next set of supply and demand estimates is out October 12th.