The USDA has increased expectations for 2023 beef production, while lowering projections for pork, broilers, and turkey.
Beef production is seen at 27.086 billion pounds, 165 million more than in May on higher slaughter rates, with an average steer price of $171.70 per hundredweight, $5.20 above a month ago, slightly higher consumption, and steady trade numbers.
Pork is estimated at 27.376 billion pounds, 5 million less than last month due to processing pace expectations, with an average barrow and gilt price of $56.70, $.20 higher, lower consumption, and unchanged imports and exports.
