The U.S. Department of Agriculture released their May World Agriculture Supply and Demand Estimates (WASDE) report this week, and in the Livestock, Poultry, and Dairy section, it notes that total red meat and poultry production for 2018 is projected to be higher than 2017 due to an increase in livestock and poultry production.
Cattle placements during second half 2017 and early 2018 are forecast higher; these cattle will be slaughtered during 2018, thus supporting higher beef production. Carcass weights are expected to be higher. Pork production is forecast higher on expected increased farrowing and continued gains in sow productivity. Higher broiler and egg production reflects expanded production in response to moderate feed prices and relatively strong 2017 prices.
Read more of the WASDE report by clicking here.