Source: Rita Jane Gabbett, MEATINGPLACE, 11/11/14


USDA raised its beef production forecast for 2014, but lowered its forecast for 2015, according the agency’s latest World Agricultural Supply and Demand Estimates report.

Cattle feeders are expected to raise animals to heavier weights in 2014 and 2015, but this is more than offset by a slower pace of marketings in the second half of 2015.

The 2014 beef import forecast is raised to 2.82 billion pounds from 2.68 billion forecast in October. USDA left unchanged its beef import forecast for 2015 at 2.7 billion pounds.

Cattle price forecasts for 2014 and 2015 are raised from last month on continued demand strength.

Pork
Pork production is forecast lower in both 2014 and 2015 as hog weights are expected to reflect a more rapid movement of animals through finishing barns.

Pork imports are raised for 2014, but are unchanged for 2015. Pork exports for 2014 are lowered to reflect September data, but the forecast for 2015 is unchanged.

The hog price forecasts for 2014 are lowered on weaker demand, but 2015 prices are unchanged.

Poultry
Broiler production is raised for 2014 and 2015 as producers have expanded at a more rapid rate. Turkey production for 2014 is raised, reflecting September slaughter data, but the forecast for 2015 is unchanged.

Broiler exports are raised for 2014 and 2015 on strength of demand. The turkey export forecast for 2014 is lowered based on September data.

Broiler and turkey price forecasts for 2014 and 2015 are unchanged.

To read the full report, click here.

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