World: WASDE updates meat production estimates for 2024

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 ...