Small month over month adjustments were recorded in USDA’s August meat production and prices forecast for this year. USDA’s World Agricultural Outlook Board Chair Mark Jekanowski says that there were insignificant adjustments made to the USDA’s August outlook for meat production, prices, and trade.
That’s reflected in trends such as higher slaughter rates for cattle, lower slaughter rates for hogs, and growing broiler production. Strong demand is also boosting prices for steers and broilers year over year. Pork exports are the main story in the meat trade, says Jekanowski.
He also provides the latest beef production and steer price forecasts for this year and next.
Jekanowski expands on the lower slaughter numbers for hogs with the pork production and price forecasts.
