April 11, 2011
 

US meat production stays stagnant

 

 

According to USDA in its monthly World Supply and Demand Estimates report, in 2011, US red meat and poultry production remains almost the same because small increases in beef and pork output are negligible due to a slightly reduced forecast of broiler and turkey production.

 

Beef production is forecast higher as higher cow and bull slaughter more than offsets slightly lower steer and heifer slaughter.

 

Pork production is forecast higher on slightly larger slaughter and higher-than-expected first quarter weights.

 

Broiler and turkey production forecasts are reduced on moderating weight gains.

 

The forecast for beef exports for 2011 is raised from last month as the relatively weak dollar and economic growth in a number of countries support export growth.

 

Conversely, the weakness in the US dollar and economic growth in other major importing countries will limit US beef imports. Thus, the forecast for beef imports is reduced from last month.

 

The pork export forecast is unchanged from last month but imports are forecast slightly lower.

 

Broiler exports are forecast lower on weaker expected demand.

 

USDA pegged average 2011 US steer prices of all grades at US$109-114 per hundredweight, up from a range of US$105-111 last month.

 

Barrows and gilts (51-52% lean) are forecast to average US$62-65 per hundredweight, up from US$59-63 forecast last month.

 

Average wholesale broiler prices (12 city average) are pegged at US$0.82-0.86 per pound, compared to last month's forecast range of US$0.81-0.86 per pound.