Meat Production on the Rise Which is Bad for Prices

U.S. Meat producers will bump up yields by about three percent in 2017 versus 2016 surpassing 100 billion pounds.

USDA Outlook Board Chair Seth Meyer said it’s not just one set of producers responsible.

“And that’s expanding supplies in all four categories, so beef, pork, poultry, turkey, everything is up year-over-year.”

But USDA Chief Economist Rob Johannson says that will mean bad things for prices with steers falling $11.50 per hundredweight, $7 per hundredweight for hogs, 1.6 cents per pound in chickens and 8.1 cents per pound for turkeys.