USDA has reduced its forecast from last month for total meat production in 2017 as decreases in commercial beef and broiler production more than offset increases in pork and turkey production.
The third and fourth quarter broiler production forecasts are reduced on hatchery data and the current pace of slaughter, according to USDA’s World Agricultural Supply and Demand Estimates Report. Second-half beef production forecasts are reduced, reflecting a slower expected marketing pace for fed cattle although cow slaughter is higher.
USDA will release the Quarterly Hogs and Pigs report on September 28, providing an indication of producer farrowing intentions into early 2018.
Third-quarter turkey production forecast is raised slightly, but no changes are made to the outlying quarter. The annual egg production forecast is increased, reflecting second-quarter production data.
For 2018, the beef production forecast is lowered from the previous month as a slower rate of placements during the second-half of 2017 is expected to result in reduced steer and heifer slaughter in the first half of 2018. Annual pork production is reduced slightly from the previous month while poultry and egg production forecasts for 2018 are unchanged. No changes are made to 2017 and 2018 red meat, poultry, or egg trade forecasts.
