Image by Wirestock/DepositPhotos
USDA Livestock Analyst Michael McConnell provided an outlook for beef pork and poultry prices during the USDA’s 2025 Agricultural Outlook Forum. “For 2025 we expect production to keep growing at a slightly higher rate than what we saw in ’24. In contrast to ‘24 however, the declines in beef and turkey production will be more than offset by higher growth rates in pork and broiler production,” said McConnell. Exports continue to be a critical factor for all segments of the livestock and poultry industry. “The outlook is for lower beef and broiler exports, while pork exports are expected to grow. Beef exports are expected to [be] constrained by lower production levels expected in the coming year. while competitive stories for pork and broiler exports in 24 are expected to carry over in 2025,” said McConnell. Overall, prices are expected to remain in positive territory for almost all segments. “Cattle, hog, chicken prices are all expected to increase. Cattle will be supported by tight cattle inventories and resilient demand. Hog and chicken prices will be supported by higher cattle prices. In terms of turkey prices, we have seen that hen price fall substantially since 2022, significant production cuts have not thus far resulted in supported prices. We expect that to turn in 2025, however with average prices still below a dollar. Forecast is still relatively low by historical standards,” said McConnell.