News

USDA beef, turkey outlooks up on month

The USDA raised its 2022 beef and turkey production projections, while cutting estimates for pork and chicken.

Beef production is seen at 27.57 billion pounds, 195 million more than in February due to the slaughter pace for both fed and non-fed cattle, with an average price of $139.50 per hundredweight, $2 higher, and increases for imports, exports, and consumption.

Pork production is expected to be 27.315 billion pounds, 65 million less than last month because of a slower slaughter and slightly lighter weights, with an average price of $71 per hundredweight, a jump of $6, and lower exports against higher imports and consumption.

Broiler production is estimated at 45.225 billion pounds, a drop of 260 million on slaughter and hatchery data, with an average price of $1.165 per pound, three and a half cents higher, higher imports and lower exports and consumption.

The outlook for turkey production is 5.62 billion pounds, up 5 million because of hatchery numbers, with an average price of $1.32 per pound, $.055 higher, and a reduction in exports, along with slightly higher imports and consumption.

The next set of supply and demand numbers is out April 8^th.