Broiler production and exports in February increased from last year, and higher-than-expected prices in late March, led to upward revisions for the price forecast, according to U.S. Department of Agricultural’s latest Livestock, Dairy, and Poultry Outlook“, which can be viewed here.
Broiler meat production for February was 3.2 billion pounds, approximately 1.7 percent above last year on a per day basis. Average weights were marginally below year earlier, representing only the third time since 2012 that weights failed to increase. Preliminary data suggested that March 2017 production was higher than a year earlier.
Growth in the number of broiler eggs set in incubators has been relatively strong, increasing the potential number of birds produced. On a year-to-date basis, these egg sets were up 2.1 percent nationwide for the 13-week period ending April 1. The impact on broiler production may have been reduced, however, by a lower proportion of the hatched chicks being placed in facilities that grow broilers for meat. The figure below shows the contrasting trends of strong growth in broiler eggs set and the recent lower percentage grown for meat 3 weeks later (after the expected incubation period).
February egg production and exports were higher than last year, and a robust price increase was in line with seasonal expectations. Turkey production remained slightly above 2016 levels in February, with 458 million pounds produced. Year-to-date production is now 3 percent above a year earlier. The forecast for 2017 first-quarter production was revised upward to 1.475 billion pounds, bringing the full year’s forecast to 6.110 billion pounds, a 2-percent increase over 2016.
