Source:  Rita Jane Gabbett, MEATINGPLACE.COM, 4/8/11

The forecast for 2011 U.S. red meat and poultry production is virtually unchanged from last month as small increases in beef and pork production are largely offset by a slightly reduced forecast of broiler and turkey production, USDA projected in its monthly World Supply and Demand Estimates report.

Beef production is forecast higher as higher cow and bull slaughter more than offsets slightly lower steer and heifer slaughter.

Pork production is forecast higher on slightly larger slaughter and higher-than-expected first quarter weights.

Broiler and turkey production forecasts are reduced on moderating weight gains.

Exports
The forecast for beef exports for 2011 is raised from last month as the relatively weak dollar and economic growth in a number of countries support export growth.

Conversely, the weakness in the U.S. dollar and economic growth in other major importing countries will limit U.S. beef imports. Thus, the forecast for beef imports is reduced from last month.

The pork export forecast is unchanged from last month but imports are forecast slightly lower.
Broiler exports are forecast lower on weaker expected demand.

Prices
Prices for livestock and poultry are raised from last month. Meat supplies remain tight and improving domestic demand and strength in red meat exports are supporting prices for livestock and poultry.
USDA pegged average 2011 U.S. steer prices (all grades) at $109 to $114 per hundredweight, up from a range of $105 to $111 last month.

Barrows and gilts (51-52 percent lean) are forecast to average $62 to $65 per hundredweight, up from $59 to $63 forecast last month.

Average wholesale broiler prices (12 city average) are pegged at 82 to 86 cents per pound, compared to last month’s forecast range of 81 to 86 cents per pound.

To view the report, click here. 

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