Lighter beef carcasses, lower hog slaughter reduce forecasts: USDA

USDA lowered its 2018 forecast for total meat production but left its 2019 forecasts unchanged in its latest World Agricultural Supply and Demand Estimates report.

Beef production for 2018 is lowered primarily as lighter carcass weights more than offset higher second-quarter steer and heifer and cow slaughter.

The 2018 beef import forecast is raised on increased shipments from Oceania, while the beef export forecast is raised largely on strong Asian demand reflected in recent trade data.

Cattle prices for 2018 are lowered slightly on second-quarter price data; no changes are made to outlying quarters.

Source: MeatingPlace