Higher third-quarter slaughter results in higher pork and broiler production, leading the USDA to raise the estimated meat production in this year in its monthly World Agricultural Supply and Demand Estimates report.
Commercial pork production is estimated to raise to 22.94 billion pounds (22.82 billion pounds last month prediction). Total U.S. meat production for 2009 is raised as higher pork and broiler production more than offset lower beef production. Pork production is raised at significantly higher weights due to favorable summer weather. Lower corn prices are expected to encourage increased weights through the fall. The broiler production forecast is also raised based on higher third-quarter slaughter. The beef production forecast is reduced on lower expected cow slaughter.
Meat production forecasts for 2010 are raised from last month. Higher feedlot placements in late 2009 and early 2010 result in higher beef production while lower prices for corn will support increased broiler meat production and slightly higher hog weights. USDA’s Quarterly Hogs and Pigs report will be released on September 25 and provide indications of the inventory and sows farrowing moving into 2010.
Source: USDA – United States Department of Agriculture