Meyer Breaks Down Expectation Of Meat Forecast
According to USDA chief economist, Seth Meyer, several upcoming USDA reports will compliment information released from the June Meat Production, export, and Price Forecast.
"On the pork side some big $3 cwt increase for 2021 and that just reflects what we've observed about really great domestic demand and really great export demand."
Which, he noted, leads to anticipation about the June quarterly hogs and pigs report.
"So we have quite elevated price expectations for 2021 we're about half way through now. Moderating prices in to 2022 I think this next hog intake report will give us a good basis for thinking about what production looks like in to 2022."
More modest production and price changes were reported for beef. Although export demand continues to be strong.
"Catalog feed report will kind of give us a picture of where we're at. And when we think a little bit longer term we also have the cattle report that gives us more of a production-based look."
If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail email@example.com