The forecast for 2020 poultry and red meat production is raised from last month. Broiler production is raised on recent hatchery data while turkey production is lowered on recent production and hatchery data. Egg production is lowered from last month on a reduced laying flock and a reduction in eggs per layer, according to USDA’s latest World Agricultural Supply & Demand Estimates (WASDE), report.
2021 poultry and red meat production forecast is raised as higher expected beef, pork, and broiler production more than offsets lower forecast turkey production. Forecast beef production is raised from the previous month as higher expected placements in late 2020 and early 2021 will result in higher marketings. Broiler production is raised from last month while turkey and egg production forecasts are reduced.
The 2020 broiler export forecast is reduced on recent trade data, but no change is made to the 2021 forecast. Turkey export forecasts are lowered for 2020 and 2021 on weak import demand from key trading partners.
