Meat Production Forecast is Lowered

Randall Weiseman Beef, Cattle, Dairy, Livestock, Pork, Poultry

USDA’s latest World Agricultural Supply and Demand Report notes in the Livestock, Poultry, and Dairy section that the forecast for total meat production in 2014 has been lowered from last month, as lower beef production in the fourth quarter more than offsets increased pork production. Beef production is reduced as slaughter is expected to be lower. A small revision is made to third-quarter broiler slaughter but the forecasts for fourth quarter broiler and turkey production are unchanged. The milk production forecast for 2014 is unchanged from last month, but it has been lowered for 2015 as growth in milk per cow is expected to be more moderate