Source: Rita Jane Gabbett, MEATINGPLACE, 4/10/18



USDA has lowered its 2018 forecasts for total red meat and poultry production from last month in its latest World Agricultural Supply and Demand Estimates (WASDE) report.

Beef
The U.S. beef production forecast is reduced from the previous month on lower first-half slaughter and lighter weights, but this decline is partly offset by higher expected third-quarter slaughter.

USDA left unchanged from last month its 2018 forecasts for both beef imports and exports.
Cattle price forecasts are reduced from last month as demand for cattle has softened and supplies are expected to be large in the coming quarters.

Pork
Pork production is raised for the first quarter based on estimated production data, but lowered for outlying quarters on a slower pace of slaughter and lighter carcass weights.

The USDA Quarterly Hogs and Pigs report of March 29 estimated producers farrowed 2 percent more sows during December to February and indicated intentions to farrow about 2 percent more sows in March to May. These hogs will be ready for slaughter in the second half of 2018.

The pork import forecast is unchanged. Pork exports are reduced on weaker expected exports to China although exports to other markets are expected to increase.

Hog price forecasts are reduced from last month as demand for hogs has softened and supplies are expected to be large in the coming quarters.

Poultry
Broiler and turkey production is reduced on recent hatchery data, while USDA made no change to its broiler or turkey export forecasts.

The broiler price forecast is raised from last month as stronger demand in the first quarter is expected to carry into subsequent quarters.

Turkey prices are reduced through the year on the continued slow recovery in demand.
Read the full report here.

For more stories, go to www.meatingplace.com.