The 2018 forecast for total red meat and poultry production is lowered from last month as forecasts for all major meats are reduced. The beef production forecast is reduced from the previous month on lower first-half slaughter and lighter weights, but this decline is partly offset by higher expected third-quarter slaughter.

Broiler and turkey production is reduced on recent hatchery data. First-quarter egg production is reduced on recent production data but no change is made to the outlying quarters, based on USDA latest World Agricultural and Supply Demand Estimates.

For 2018, beef imports and exports are unchanged from last month. The pork import forecast is unchanged. Pork exports are reduced on weaker expected exports to China although exports to other markets are expected to increase. No change is made to broiler or turkey exports.

The broiler price forecast is raised from last month as stronger demand in the first quarter is expected to carry into subsequent quarters. Turkey prices are reduced through the year on the continued slow recovery in demand. Egg price forecasts are raised on robust demand.