November 14, 2007

US red meat production to increase in 2007, drop in 2008  

The USDA has raised its red production estimate for 2007 while lowering that for 2008, highlighting a trend that would show higher production this year slowing down production the next.

The USDA raised its forecast for US red meat production in 2007 to 48.349 billion pounds, up 255 million pounds from its forecast a month before.

In its November World Agricultural Supply and Demand Estimates report, the USDA also lowered 2008 red meat production estimates made in October by 138 million pounds to 48.729 billion pounds. 

The report also added 176 million pounds to its October forecast for 2007 beef production, bringing November forecast to 26.24 billion pounds.

However, the 2008 projection was lowered 75 million pounds to 26.105 billion pounds from 26.180 billion pounds in October.

Pork saw an 80 million pound increase from October's forecast to 21.774 billion pounds.

Similarly, 2008 projection was lowered 60 million pounds from 22.345 billion pounds predicted in October to 22.285 billion pounds.