News

USDA cuts most meat production outlooks

The USDA has lowered most of its 2019 protein production projections.

The month to month reduction on beef from 27.043 billion pounds to 26.953 billion was because of expectations for a slower slaughter pace and lighter weights during the fourth quarter of the year, while also lowered imports, exports, per capita consumption, and the annual price guess.

Pork was down on the month at 27.578 billion pounds, also based on slaughter and weight expectations, with higher exports against lower consumption and prices.

Turkey was below August at 5.866 billion pounds, with the USDA anticipating slower production in the second half of the year, with prices, exports, and consumption unchanged.

Broilers were the exception, up from last month to 43.467 billion pounds because of the current pace of production and heavier average weights, with the average price and consumption both up slightly.

The next set of supply and demand estimates is out October 10^th.