USA: Pork, poultry production guesses above last month

Published Jun 13, 2024

Tridge summary

The USDA has updated its production estimates for 2024, showing an increase in pork, broiler, and turkey production, but a decrease in beef and eggs. Beef production is expected to drop slightly due to higher dressed weights, while pork is expected to rise due to a faster slaughter pace and heavier weights. Broiler production is anticipated to increase, but there will be reductions in imports and exports. Turkeys are expected to see a slight increase in production, while egg production is expected to drop due to Highly Pathogenic Avian Influenza. The USDA will release its next set of supply and demand estimates on July 12th.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA’s 2024 pork, broiler, and turkey production estimates were up on the month, while beef and eggs were down.Beef production is seen at 26.59 billion pounds, 5 million less than May on higher dressed weights canceling out an expected lower slaughter, with an average steer price of $184.01 per hundredweight, up $.50, and no changes to imports, exports, or consumption.Pork is pegged at 28.104 billion pounds, 40 million higher on a faster slaughter pace and heavier dressed weights, with an average barrow and gilt price of $61.24 per hundredweight, down $1.25, and larger imports and exports against lower consumption.Broiler production is estimated at 46.865 billion pounds, 60 million more than a month ago due to weights and hatchery data, with an average price of $1.275 per pound, a half a cent higher, with reductions to imports and exports and slight bump to consumption.Turkey is projected at 5.234 billion pounds, up 20 million on hatchery numbers, with an average price of ...
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