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USDA predicts decade of increased cattle, hog production
Story Date: 2/15/2012
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Source: MEATINGPLACE, 2/14/12
U.S. red meat and poultry production is expected to decline this year and next, but by 2014 cheaper feed grains will improve net returns in the livestock sector and provide economic incentives for expanded meat and poultry production through 2021, according to USDA.
Beef
In its “USDA Agricultural Projections to 2021” report, the agency forecast beef cow numbers will rise from about 30 million head at the beginning of 2012 to more than 34 million in the last several years of the projections.
USDA predicted the total cattle inventory would drop below 91 million head before expanding to about 97 million head at the end of the projection period. Rising slaughter weights will also contribute to the longer-term beef production expansion.
Pork
As feed costs decline, pork producers are expected to increase farrowings with pork production projected to rise over the next decade. Pork production increases will also be supported by gains in breeding herd productivity and increased slaughter weights.
Consumption
U.S. per capita beef consumption is expected to decline through 2013 before rising moderately over much of the remaining decade. Per capital pork consumption, which declined sharply in 2010 and 2011, largely reflected larger exports. A gradual increase in per capital pork consumption is projected over the next decade as production rises and export gains moderate. Poultry per capita consumption is also expected to rise.
To read the full report, click here.
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