News

USDA sees higher pork, beef, poultry production

The USDA has raised its 2019 red meat and poultry production projections.

The month to month increase for commercial beef production, now at 27.036 billion pounds, was due to faster than expected slaughter paces for both fed and non-fed cattle, with lower imports and exports against a fractionally higher per capita consumption estimate at 57.3 pounds per person. The average 2019 price for steers is now seen at $116 per hundredweight, up $.50 from October.

Commercial pork production was hiked to 27.620 billion pounds on higher hog slaughter and average weight figures, and the USDA also lowered exports while increasing per capita consumption to 52.1 pounds per person. The average barrow and gilt price is pegged at $48 per hundredweight, $1 less than last month.

Federal broiler production was up at 43.738 billion pounds on hatchery data, while exports were reduced and per capita consumption was raised to 94.7 pounds per person. The average broiler price is estimated at $.885 per pound, a penny more than a month ago.

Federal turkey production is higher because of third quarter production and fourth quarter supplies, now seen at 5.889 billion pounds, with exports steady and per capita consumption up fractionally at 16.1 pounds per person. The average turkey price is expected to be $.885 per pound, unchanged on the month.

The USDA’s next set of supply and demand estimates is out December 10th.