USDA global livestock and poultry outlook

Published 2024년 2월 15일

Tridge summary

The USDA's Livestock and Poultry Outlook for 2024 predicts a decrease in commercial beef production by 3% due to tighter cattle supplies, leading to record feeder and fed cattle prices. Beef exports are expected to fall, while imports rise by 11%. On the other hand, commercial pork production is expected to increase by 2% to 27.88 billion pounds, with both domestic and export demand supporting higher prices. Pork exports are forecast to increase by 4%, despite increased competition from Brazil. Overall, US red meat and poultry production is projected to slightly increase, with feed prices expected to fall slightly, providing a boost for livestock producers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

OMAHA (DTN) -- Tighter cattle supplies are expected to increase record feeder and fed cattle prices in 2024; pork producers will see better pricing conditions as well. USDA's Livestock and Poultry Outlook for 2024 shows limited production growth in overall U.S. red meat and poultry in 2024 as the impacts of the multiyear drought continue to affect supplies of red meat and poultry. USDA released its outlook report for different sectors of agriculture on Thursday as part of the USDA Outlook Forum in Arlington, Virginia. CATTLE AND BEEF Commercial beef production in 2024 is forecast at 26.19 billion pounds, down 3% from 2023. In the first half of the year, steer and heifer slaughter will reflect slightly higher numbers of cattle in feedlots at the beginning of the year, but production will fall as feedlot numbers diminish later in the year. Cow slaughter also is expected to decline due to lower investment and expectations that any response to improving returns or forage will likely ...

Source: Dtnpf