Cattle Price Forecast Lowered, Hog Prices Raised

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

USDA has released their monthly World Agricultural Supply and Demand Estimates report, and in the Livestock, Poultry and Dairy section, it notes that cattle prices for both 2015 and 2016 are reduced from last month on current large supplies of market ready cattle, weaker demand and competition from relatively large supplies of competing meats. Hog prices were raised for both years as demand has firmed. Broiler prices are lowered for both 2015 and 2016 on relatively large broiler meat supplies. Egg prices for 2015 are lowered reflecting recent price declines, but the forecast for 2016 is unchanged.

Milk production forecasts for 2015 and 2016 are unchanged from last month. Dairy exports are reduced for 2015 on weaker cheese sales, but are unchanged for 2016. Butter price for 2015 is unchanged at the midpoint, and is raised for 2016. .

For the complete report: