News
USDA hikes meat production estimates
The USDA has increased its 2021 red meat and poultry production projections.
Beef is pegged at 27.885 billion pounds, up 53 million from October, expecting higher fed cattle slaughter and average weights, with an average steer price of $121.31 per hundredweight, a gain of $.25, along with higher imports, exports, and per capita consumption.
Pork is seen at 27.678 billion pounds, 4 million higher, thanks to higher weights cancelling out a slower fourth quarter slaughter, with an average barrow and gilt price of $67.45, down $2 due to recent price weakness, and declining exports against rising imports and consumption.
Broiler chickens are projected at 44.828 billion pounds, 104 million higher because of hatchery and slaughter data, with an average price of $.997 per pound, $.013 higher, and smaller imports against bigger exports and consumption.
Turkey production is estimated at 5.612 billion pounds, 3 million above a month ago following the September production report, with an average price of $1.231 per pound, a gain of a penny and a half, and higher exports to go with steady imports and consumption.
The USDA’s next set of supply, demand, and production numbers is out December 9th.
