USDA RAISES RED MEAT & POULTRY OUTPUT FORECASTS.

nina | December 11th, 2013 - 9:00 am

USDA raised its forecasts for total red meat and poultry production for both 2013 and 2014 in its December World Agricultural Supply and Demand Estimates report.

For 2013, small changes are made to the fourth quarter for the major species, based on slaughter data to date. The forecast for 2014 is raised based on higher expected cattle and hog carcass weights and higher cattle slaughter. 

No change is made to 2014 broiler production, but the turkey production forecast is reduced based on hatchery data.

Beef imports are lowered slightly for 2013, but no change is made to 2014. Beef exports are raised for both 2013 and 2014. 

Pork imports are raised for both 2013 and 2014 based on estimates for the third quarter and early fourth quarter and expectations for slightly stronger imports in 2014. Pork exports for 2013 and 2014 are reduced from last month based on slightly weaker demand in Asia.

The 2013 broiler export forecast is lowered slightly based on exports to date, but the forecast for 2014 is unchanged. Turkey exports are raised for 2013 but the forecast for 2014 is unchanged.

Cattle prices for 2013 and 2014 are raised from November as demand for fed cattle remains strong.

Hog prices for 2013 are lowered as fourth-quarter prices have been slightly weaker- than-expected. The forecast for 2014 is unchanged.

Broiler and turkey price forecasts for 2013 and 2014 are raised from last month. Demand for broiler meat is firm, supported by expected tight supplies of beef and moderate production increases. Turkey prices are expected to be supported by slower forecast growth in production. 

Source:  Meatingplace.com, 12/11/13

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