News

USDA meat outlooks up on month

The USDA has increased its 2024 projections for beef, pork, chicken, and turkey production, while decreasing the egg outlook.

Beef is estimated at 26.795 billion pounds, up 59 million from August on a faster cow slaughter pace and heavier weights, with an average steer price of $185.11 per hundredweight, down $3, and higher imports, exports, and consumption.

Pork is seen at 28.053 billion pounds, 5 million higher due to an increase in slaughter against lower weights, with an average barrow and gilt price of $59.38 per hundredweight, unchanged, steady imports, higher exports, and lower consumption.

Broiler chicken is pegged at 47.109 billion pounds, a jump of 233 million on slaughter and hatchery data, with an average price of $1.28 per pound, down eight tenths, and cuts to imports and exports, but with a gain in consumption.

Turkey is projected at 5.13 billion pounds, up 15 million because of egg set numbers, with an average price of $.937 per pound, a half cent lower, and minimal changes to trade and consumption.

Egg production is expected to be 9.076 billion dozen, a decline of 65 million on slower laying flock growth, with an average price of $2.789 per dozen, up $.075, and reductions for imports, exports, and consumption.

For 2025, the USDA raised beef and broiler estimates, lowered pork and eggs, and left turkey steady.

The USDA’s next round of supply and demand estimates is out October 11^th.