The USDA has increased its 2021 red meat production outlook, while lowering expectations for poultry.
Beef production is seen at 27.895 billion pounds, up 10 million from November due to higher fed cattle slaughter rates and heavier carcass weights, with an average steer price of $122.56 per hundredweight, a gain of $1.25, steady exports and higher imports and consumption.
Pork production is pegged at 27.733 billion pounds, 55 million more than last month because of the recent slaughter pace, with an average barrow and gilt price of $67.45, down $.25, a cut in exports and an increase for imports and consumption.
