World: WASDE updates meat production estimates for 2024

Published 2024년 7월 17일

Tridge summary

The U.S. Department of Agriculture (USDA) has revised its meat and poultry production forecasts for 2024, reducing the projection to 107.127 billion pounds, a decrease of 1 million pounds from the June report. This is attributed to lower expected broiler and turkey production, despite higher forecasts for beef and pork. Pork production is anticipated to rise due to heavier weights expected in the second half of the year, while beef production is expected to increase due to a higher expected slaughter of steers and heifers. Broiler production is expected to decline due to slower growth in the first quarter, and turkey production is expected to decrease due to lower returns and slower growth in 2025. Beef imports are predicted to fall in 2024 due to anticipated global competition, while beef exports have increased due to strong demand in several markets.

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

Original content

WASHINGTON — In its July World Agricultural Supply and Demand Estimates (WASDE) report, the U.S. Department of Agriculture said it would slightly reduce its meat and poultry production estimates for 2024. The figures released by the agency showed the new projection at 107.127 billion pounds for red meat and poultry, which represents a reduction of 1 million pounds from the same June report. The USDA said the WASDE numbers were “slightly lower than last month, with lower forecast broiler and turkey production more than offsetting higher beef and pork production.” “Pork production increases this month due to the increase in weights for the second half of the year. “Beef production increases due to expected higher slaughter of steers and heifers, which more than offsets the reduction in cow slaughter,” the report states. “Broiler production decreases due to second quarter slaughter data. “Turkey production declines due to lower expectations for the second half of the year based on ...

Source: Agromeat