The 2020 forecast for poultry and total red meat production is raised from last month on higher beef, pork, and broiler production. The broiler production forecast is raised on higher expected production for the fourth quarter, according to USDA’s latest World Agricultural Supply and Demand Estimates.
For 2021, the poultry and total red meat forecast is raised from last month as higher expected broiler production more than offsets lower forecast pork production. Broiler production is raised from the previous month, but higher feed costs are expected to temper production growth.
The 2020 and 2021 broiler export forecasts are raised from last month on stronger expected international demand. The 2020 turkey forecast is raised from last month on higher September exports and expectations of slightly higher exports through the remainder of the year; the 2021 forecast remains unchanged.
The 2020 broiler and turkey price forecasts are raised from the previous month on current prices, but no changes are made to 2021 prices.
