June 13, 2012

USDA expects lower beef production

USDA expects a lower domestic beef production to 25.088 billion pounds, from 25.190 billion a month ago, as decreased steer and heifer slaughter offset higher dressed weights and cow slaughter.

Cattle price forecasts remained unchanged at US$123 to US$128 per hundredweight.

In its monthly World Agricultural Supply and Demand Estimates report, USDA raised its 2012 broiler output forecast to 36.89 billion pounds from 36.589 billion last month, noting that while remaining below last year, hatchery data are pointing towards smaller declines in eggs set and heavier bird weights. Turkey production is also forecast slightly higher, based on recent production data.

Broiler prices are now forecast at 85 cents to 88 cents per pound, down from 86 cents to 89 cents per pound last month. Turkey price projections remained unchanged at US$1.07 to US$1.11 per pound.

Pork production for 2012 is now forecast at 23.368 billion pounds from 23.283 a month ago on heavier expected carcass weights. Hog prices are now forecast to average US$59 to US$61 per hundredweight, down from a range of US$61 to US$63 last month.