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USDA boosts beef, poultry production estimates
Story Date: 6/13/2013
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Source: MEATINGPLACE, 6/13/13
USDA on Wednesday said it raised its forecast for total meat production this year, as higher beef and broiler production more than offset lower pork production.
In its monthly World Supply and Demand Estimates report, USDA said poor forage conditions have resulted in relatively large placements of cattle in feedlots in the first part of 2013, and cow slaughter remains high.
Broiler slaughter was raised slightly for the third quarter, reflecting hatchery data, USDA said.
The agency lowered its estimate for pork production in the second quarter based on the pace of hog slaughter and slightly lower expected carcass weights. USDA said its Quarterly Hogs and Pigs report, to be released on June 28, will provide an indication of producer farrowing intentions for the remainder of the year.
Forecasts for 2013 beef exports were reduced from last month as trade to a number of markets has been relatively weak, the agency said. Broiler exports were raised, and pork exports were unchanged.
Cattle price forecasts for 2013 were lowered, while broiler prices were raised, reflecting strong domestic and export demand. Hog prices were raised due to tighter supplies.
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