The 2016 forecast of total red meat and poultry production is raised from last month as higher expected cattle slaughter and heavier carcass weights more than offset a lower pork production forecast. The Quarterly Hogs and Pigs report, released March 25, estimated that growth in pigs per litter in the first quarter was slower than expected and that producers expected to farrow fewer sows in March-May than previously intended. Coupled with slower-than-expected first quarter slaughter, forecast pork production is reduced. No change is made to broiler and turkey production. The beef import forecast is raised and the export is reduced from last month based on recent trade. Read more...
The forecasts for total meat production in 2015 and 2016 are increased from last month. Beef production for 2015 is raised on larger forecast slaughter of fed cattle in the second half of 2015 and heavier carcass weights. The forecast for 2016 is raised as cattle slaughter and carcass weights in the first half are projected higher than last month. The pork production forecasts for both 2015 and 2016 are raised. The pace of hog slaughter in the remainder of 2015 is expected to be higher. USDA’s Quarterly Hogs and Pigs estimated less of a decline in sows farrowing during June-August than indicated in prior intentions and farrowing intentions into early 2016 support. Read more...
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