The USDA has decreased its 2023 production projections for most major proteins.
Beef production is seen at 26.981 billion pounds, 180 million below July, due to lighter dressed weights for steers and heifers, with an average steer price of $178.50 per hundredweight, $3.20 higher, steady exports and lower imports and consumption.
Pork production is expected to be 27.264 billion pounds, down 107 million on lower dressed weights canceling out a higher slaughter pace, with an average barrow and gilt price of $62.20, a jump of $4.30, and higher imports and exports against lower consumption.
