The total of poultry and red meat production for 2020 is raised from last month.  The broiler production forecast is raised on the current pace of slaughter as well as recent hatchery data which points towards continued flock expansion.

The turkey production forecast is increased on recent production data and hatchery data. Beef production is raised from the previous month as higher expected steer and heifer slaughter more than offsets lower non-fed cattle slaughter. Heavier carcass weights are also expected to support increased beef production. Pork production is increased on higher first-quarter slaughter. The forecast for egg production is increased as the laying flock continues to expand, according to USDA’s World Agricultural Supply and Demand Estimates report

The 2020 beef import forecast is raised from last month on higher expected imports of processing grade beef, while the export forecast is reduced on weaker anticipated demand in several markets. Broiler prices are lowered as larger supplies outweigh demand. The first quarter turkey price is reduced on recent price weakness. Egg prices are raised on expected demand strength.Pork exports are raised from last month on recent trade data and strong international demand for U.S. pork products. The broiler and egg export forecasts are raised slightly from last month on recent trade data, while the turkey forecast is reduced. The fed cattle price forecast is reduced from last month on recent price weakness and increased production. The hog price forecast is reduced on pressure from large hog supplies.