2020 broiler production forecast was decreased on slower processing volumes and hatchery data, as well as expectations for continued weakness in demand, according to USDA’s latest Livestock, Dairy, and Poultry Outlook report.
For the remainder of 2020, broiler price forecast was decreased as prices are anticipated to remain soft, while broiler export volumes were increased on higher shipments to China. In 2021, production is expected to resume growth as producers aim to return to operating efficiency. While prices are expected to improve relative to 2020, they will likely remain soft in 2021 due to higher production. Broiler export growth will likely slow in 2021 due to challenging global economic conditions and a strong U.S. dollar early in the year. The 2020 egg price forecast was increased on higher prices in April and expectations for sustained retail demand.
Table egg production forecast was increased slightly, while hatching egg production was revised down on reduced broiler production. 2021 table egg production is expected to increase on higher lay rates and a larger layer flock. 2021 egg prices are expected to be lower than in 2020 due to increased production. The 2020 turkey production forecast was revised down to 5.834 billion pounds on decreases in processing capacity and poults placed.
