MEAT PRODUCTION ESTIMATES MOSTLY DOWN ON MONTH
The USDA has decreased its 2023 production projections for most major proteins.
Beef production is seen at 26.981 billion pounds, 180 million below July, due to lighter dressed weights for steers and heifers, with an average steer price of $178.50 per hundredweight, $3.20 higher, steady exports and lower imports and consumption.
Pork production is expected to be 27.264 billion pounds, down 107 million on lower dressed weights canceling out a higher slaughter pace, with an average barrow and gilt price of $62.20, a jump of $4.30, and higher imports and exports against lower consumption.
Broiler production is pegged at 46.976 billion pounds, a decline of 123 million less than last month because of egg sets and hatchability, with an average price of $1.222 per pound, $.062 below a month ago, larger imports, smaller exports, and steady consumption.
Turkey production is estimated at 5.578 billion pounds, up 125 million thanks to slaughter and hatchery data, with an average price of $1.524, down $.113, and steady imports to go with higher exports and consumption.
The USDA’s next set of supply, demand, and production estimates is out September 12th.