The USDA’s latest supply and demand report has a slight month to month decrease for 2021 red meat production against a modest increase in poultry.
Beef production is projected at 27.905 billion pounds, up 5 million from May, expecting a bigger cow slaughter to cancel out lower steer and heifer processing, with an average steer price of $117 per hundredweight, $.70 higher, increased imports and exports, but fractionally lower consumption.
Pork production is seen at 28.191 billion pounds, down 30 million on the month because of lower weights, with an average barrow and gilt price of $70.20 per hundredweight, $3 higher, higher imports, higher exports, and lower consumption.
