Broiler production forecast is higher to reflect moderating feed costs and improved productivity, according to USDA’s May World Agricultural Supply and Demand Estimates (WASDE) report.
Broiler exports are forecast higher on increased production and lower prices. Broiler prices for 2022 are raised on stronger prices to date and continued demand strength. For 2023 broiler prices are forecast lower with increased production.
The report estimated 90.7 million acres of corn planted through December 2021 and is projecting 93.4 million acres for 2022. 2021 yield is 171.4 bushels per acre and 2022 is projected to be 177.0 bushels per acre.
USDA estimated 83.4 million acres of soybeans planted through December 2021 and is projecting 87.2 million acres for 2022. 2021 yield is 51.0 bushels per acre and 2022 is projected to be 51.4 bushels per acre.
The full report can be viewed here.
