USDA cuts most meat production projections
By John Perkins, Brownfield
January 10, 2020
The USDA lowered its 2020 production estimates for beef, pork, and turkey, while raising the outlook for chicken.
Beef production is seen at 24.44 billion pounds, down from December because of lighter carcass weights, with imports and exports unchanged at 2.88 billion and 3.305 billion pounds, respectively, along with slightly lower per capita consumption at 57.2 pounds per person. The average steer price is pegged at $117 per hundredweight, up $.50 on the month.
Pork is projected at 28.645 billion pounds, with the USDA expecting a reduced slaughter in the second half of the year, while exports were unchanged at 7.1 billion pounds and imports and consumption were modestly lower at 885 million pounds and 52.5 pounds per person. The average barrow and gilt price is estimated at $54.50 per hundredweight, down $.50.
Chicken was reported at 45.4 billion pounds...
The guess for turkey production is 5.91 billion pounds...