Total U.S. poultry and red meat production in 2017 is projected to be above 2016, according to USDA’s “World Agricultural Supply and Demand Estimates” May 10 report available here. However, USDA lowered its estimates for total red meat and poultry production from last month as production forecasts for beef and poultry are reduced.
Broiler production is forecast higher as the industry continues it current expansion path. Turkey production will continue to increase during 2017, but not at the rate of growth expected for 2016 when the sector is rebuilding following the outbreak of Highly Pathogenic Avian Influenza (HPAI) in 2015.
Beef production is forecast higher as larger 2015 and 2016 calf crops are expected to support year-over-year increases in cattle placements in late 2016 and early 2017. Marketings of fed cattle are forecast higher during 2017 while carcass weights are expected to increase with good forage conditions and lower feed costs.
Pork production is expected to increase with larger hog supplies and heavier carcass weights. A modest expansion of farrowings is expected during the latter part of 2016 and early 2017, and continued growth in pigs per litter will support larger pig crops.
