The USDA has lowered its pork and turkey production expectations, but increased the outlooks for beef and chicken.
Beef production is projected at 28.347 billion pounds, 211 million more than October on the slaughter pace and heavier carcass weights, with an average steer price of $144.15 per hundredweight, up $1, and higher consumption against lower imports and exports.
Pork is pegged at 27.121 billion pounds, 27 million less than last month due to an expected slower slaughter rate, with an average barrow and gilt price of $71.33 per hundredweight, $.25 higher, and a gain in exports versus losses in imports and consumption.
