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Pork, poultry production guesses above last month

The USDA’s 2024 pork, broiler, and turkey production estimates were up on the month, while beef and eggs were down.

Beef production is seen at 26.59 billion pounds, 5 million less than May on higher dressed weights canceling out an expected lower slaughter, with an average steer price of $184.01 per hundredweight, up $.50, and no changes to imports, exports, or consumption.

Pork is pegged at 28.104 billion pounds, 40 million higher on a faster slaughter pace and heavier dressed weights, with an average barrow and gilt price of $61.24 per hundredweight, down $1.25, and larger imports and exports against lower consumption.

Broiler production is estimated at 46.865 billion pounds, 60 million more than a month ago due to weights and hatchery data, with an average price of $1.275 per pound, a half a cent higher, with reductions to imports and exports and slight bump to consumption.

Turkey is projected at 5.234 billion pounds, up 20 million on hatchery numbers, with an average price of $.968 per pound, an increase of a penny and a half, with higher imports, exports, and steady consumption.

Egg production is expected to be 9.086 billion dozen, a drop of 144 million due to Highly Pathogenic Avian Influenza, with an average price of $2.309 per dozen, a jump of $.325, with higher imports and lower exports and consumption.

The USDA’s next set of supply and demand estimates is out July 12th.

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