November 10, 2021
USDA raises projections for US red meat, poultry productions in 2021
The United States Department of Agriculture (USDA) has increased projections for its 2021 US red meat and poultry production.
Beef is pegged at 27.885 billion pounds, up 53 million from October, with the the expectation of higher fed cattle slaughter and average weights, and an average steer price of US$121.31 per hundredweight, a gain of US$0.25, along with higher imports, exports and per capita consumption.
Pork is seen at 27.678 billion pounds, four million pounds higher, thanks to higher weights canceling out a slower fourth quarter slaughter, with an average barrow and gilt price of US$67.45, down US$2 due to recent price weakness and declining exports against rising imports and consumption.
Broiler chickens are projected at 44.828 billion pounds, 104 million pounds higher due to hatchery and slaughter data, with an average price of US$0.997 per pound, $0.013 higher, and smaller imports against bigger exports and consumption.
The USDA's next set of supply, demand and production numbers is out on December 9.
- Brownfield Ag News