The U.S. Department of Agriculture has released its October 12 World Agricultural Supply and Demand Estimates. The report is available here.
USDA reduced the forecast for total red meat and poultry production for 2016 from last month as slightly higher beef and pork productions is more than offset by lower broiler production. There was no change in turkey production.
USDA lowered its forecast for broiler production based on more moderate growth in production contuining. Beef production is raised on higher expected slaughter, although carcass weights are reduced slightly. USDA raised the 2016 forecast for pork production on the pace of third quarter slaughter. Broiler production is lowered as recent production data points towards continued slow growth in bird weight.
For 2017, the total red meat and poutlry product forecast was raised, primarily due to higher pork production. Beef production is raised based on expectations of higher first-quarter slaughter, but the broiler production forecast was lowered on more moderate growth in production continuing from 2016. The turkey production forecast was unchanged. Egg production forecasts for 2016 and 2017 were raised on continued growth in table-egg lawing.
Beef import and export forecasts for 2016 and 2017 were raised as slightly larger supplies of beef in a number of exporting countries support higher imports and lower U.S. beef prices make the United States more competitive in world markets. The pork export forecast for 2017 is raised on expectations of higher sales to Asia. Broiler and turkey export forecasts are unchanged for 2016 and 2017.
http://www.usda.gov/oce/commodity/wasde/latest.pdf
