USDA WASDE forecasts Q4 beef and broiler production growth
The forecast for 2022 red meat and poultry production is raised from last month as higher beef and broiler forecasts for the fourth quarter are partly offset by lower pork and turkey forecasts.
Beef production is raised with higher expected cattle slaughter as well as higher carcass weights. Pork production is lowered on a slower expected pace of slaughter.
Broiler production is raised on current slaughter and hatchery data. Turkey production is lowered based on tighter bird supplies.
For 2023, the beef production forecast is lowered on tighter supplies of fed cattle and lower cow slaughter. Broiler production is raised on expected growth in broiler flocks. Turkey production is lowered slightly for the first two quarters. Egg production is reduced as slower expected growth in production in late 2022 is carried into the first part of 2023.
Beef imports for 2022 are lowered on recent data, higher expected U.S. cow slaughter, and weaker expected imports from Oceania in the fourth quarter. Exports are lowered on recent data and expected weaker exports to Asian markets.
Pork imports are lowered and exports are raised for 2022 on observed data. Weaker imports are carried through into 2023, but exports are unchanged. Broiler export forecasts for 2022 are raised on recent trade data while 2023 exports are unchanged. Turkey exports are raised for 2022 and 2023 on current trade data.
Source: meatinfo