The U.S. Department of Agriculture on August 12 published its latest “World Agricultural Supply and Demand Estimates” (WASDE) report. The USDA report is available by clicking here.
USDA lowered its forecast for total meat production in 2015 and 2016 from last month’s WASDE report. Beef production for 2015 and 2016 is lowered because of a combination of slower marketings of fed cattle and reduced cow slaughter. The forecast for beef exports in 2015 and 2016 was lowered from last month on the strength of the dollar and expectations of weak demand.
Pork production forecasts for this year and next are unchanged. Broiler production for 2015 is lowered from last month as growth in the number of eggs set and chicks placed has slower. Weaker forecast broiler prices are expected to limit production growth as well. USDA made no change in its forecast for 2016 production.
