USDA Makes Changes To U.S. Meat Production Expectations

USDA's January WASDE report had a modest change for the meat production outlook.

"For 2022, in terms of beef production...increased our beef production forecast by 160 million pounds," said World Ag Outlook Boar Chair Mark Jekanowski. "That mainly reflects higher than expected 4th quarter cattle placements that should be increasing supplies for slaughter later in the year.  That's reflected in the higher beef production forecast.

"Pork production, on the other hand, we've pulled it back by 80 million pounds," Jekanowski continued. "Reflecting information we got out of the hogs and pigs report, that was released late last month, that showed slower farrowing intentions for the first half of this year and so that should tighten up supplies, hog supplies, for slaughter later in the year."]

Jekanowski said there were no changes, month-over-month, in turkey production, but broiler production was up in the report.

"Reflecting strong prices and a strong 1st quarter pace for broiler slaughter," he noted.

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