The forecast for 2017 total red meat and poultry production is lowered from last month as lower beef, pork, and turkey production more than offsets higher broiler production.
The broiler production forecast is raised on third-quarter slaughter data, but no change is made to the fourth-quarter forecast. The turkey forecast is reduced slightly on lower than expected third-quarter slaughter data; no change is made to the fourth quarter forecast. The 2017 egg production forecast is lowered from last month as lower table egg production more than offset higher hatching egg production, according to USDA’ World Agricultural Supply and Demand Estimates Report (WASDE), which can be viewed .
For 2018, the total red meat and poultry forecast is raised from the previous month as higher expected beef and pork production more than offsets lower turkey production. Beef production is raised from last month as higher expected placements in the latter part of 2017 and first-half 2018 are expected to support higher marketings and fed cattle slaughter in 2018. However, carcass weights are expected to be slightly lower. Pork production is raised from last month on higher expected first-quarter slaughter and slightly heavier carcass weights; no changes are made to outlying quarters. The 2018 broiler production forecast is unchanged from the previous month. Turkey production forecasts are lowered on weakness in prices which will dampen expansion in 2018. The 2018 egg production forecast is raised from last month.
Both 2017 and 2018 broiler export forecasts are reduced from the previous month on an expected slower pace in global demand. The annual turkey import forecast is reduced for 2017, while the export forecast is raised. No changes are made to 2018 turkey trade forecasts.
