The USDA has lowered its outlook for 2018 beef and pork production, because of slowdowns in slaughter rates. Beef is now projected at 27.278 billion pounds and pork is estimated at 26.784 billion.
The steer price outlook was unchanged on the month at $114 to $119 per hundredweight with a slightly higher export outlook, slightly lower imports, and nearly 1-pound drop in per capita consumption, from 59.0 pounds per person in April to 58.1 in May.
Continue reading USDA lowers most 2018 protein production estimates at Brownfield Ag News.
