The 2019 forecast for total red meat and poultry production is lowered from last month on lower expected beef, pork and broiler production. The beef production forecast is reduced from the previous month based on lower carcass weights, but higher total cattle slaughter for 2019 is expected to partially offset declines in carcass weights, according to USDA latest World Agricultural and Supply and Demand Estimates report.
Broiler production is reduced on recent hatchery data and slowing weight growth while turkey production is raised slightly. The 2019 egg production forecast is raised from the previous month as the pace of expansion has been more rapid than previously expected.
For 2019, beef trade forecasts are unchanged from last month. Pork imports remain unchanged from the previous month, but the export forecast is raised on expectations of stronger global demand for U.S. pork products in the second half of the year. These forecasts assume that current trade policies remain in place. No change is made to broiler and turkey export forecasts.
