USDA raises beef production guess

 

By John Perkins, Brownfield

July 13, 2017

 

The USDA has increased its 2017 red meat production estimate, while lowering poultry slightly.

 

Beef production was up from the June projection, now at 26.495 billion pounds, because of a higher slaughter pace and heavier live weights. That cancelled out a slight decline for pork, down to 25.834 billion pounds, which the USDA links to a slower summer slaughter rate and expectations for lower weights in the second half of the year. Total red meat production is seen at 52.550 billion pounds. USDA lowered its steer price estimate to $121 to $126 per hundredweight and raised the barrow and gilt projection to $48 to $50 because of those expected production changes. The beef import and export guesses were up on the month, now at 2.789 billion pounds and 2.816 billion, respectively, while pork was left unchanged, with imports of 1.064 billion pounds and exports of 5.747 billion.

 

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