The USDA has increased its expectations for 2022 beef, broiler, and turkey production, while decreasing the annual outlook for pork.
Commercial beef production is pegged at 28.417 billion pounds, up 70 million from November due to slaughter data and heavier carcass weights, with an average steer price of $144.15 per hundredweight, unchanged on the month, and steady imports against higher exports and consumption.
Pork is seen at 27.061 billion pounds, down 60 million because of lighter carcass weights, with an average barrow and gilt price of $71.33 per hundredweight, steady with last month, and lower imports and exports, along with no change to consumption.
