The USDA lowered 2023 pork and broiler production estimates while raising beef and leaving turkey unchanged.
Beef production is expected to be 26.495 billion pounds, 50 million more than in January on a higher first quarter slaughter guess against lower carcass weights, with an average steer price of $159 per hundredweight, up $.50, and higher imports with steady exports and consumption.
Pork is pegged at 27.435 billion pounds, 45 million less than last month on lighter carcass weights in the first half of the year, with an average barrow and gilt price of $66.50 per hundredweight, down $1.50, slightly lower consumption, and steady imports and exports.
