USDA increases beef production estimate

The USDA has raised its total 2017 U.S. meat production outlook.

A bigger projection for beef and turkeys canceled out a reduced outlook for pork and a steady broiler production estimate, for a red meat & poultry total of 101.003 billion pounds. Beef is now seen at 26.5 billion pounds, with pork at 26.095 billion, broilers at 41.525 billion pounds, and turkeys at 6.110 billion.

Pork, beef, and broiler export expectations were unchanged, at 5.670 billion pounds, 2.725 billion pounds, and 6.925 billion pounds, respectively, while the guess for turkey exports was a little bit smaller at 625 million pounds.

2017 price projections were steady to higher for steers and broilers, steady to lower for pork, and mixed for turkeys. The current USDA outlook for steers is $115 to $121 per hundredweight and barrows and gilts are pegged at $43 to $45, while broilers are seen at $.86 to $.90 per pound, with turkeys at $1.04 to $1.09.

Source: Brownfield