The USDA has raised its expectations for 2023 red meat production, while cutting the outlook for poultry.
Beef production is estimated at 26.976 billion pounds, 35 million more than September as the USDA expects higher second half cow and bull slaughter to mostly cancel out smaller third quarter steer and heifer slaughter. The USDA also raised its import guess and consumption, while lowering exports, and the average annual steer price, which is now estimated at $177.30 per hundredweight, $1.20 under a month ago.
