December 12, 2013
US pork production forecast up slightly in 2014
In its latest "World Agricultural Supply and Demand Estimates" report, the USDA raised total red meat production forecast for both 2013 and 2014, based on higher cattle and hog carcass weights and cattle slaughter.
Pork production in 2014 was forecast at 23.9 million pounds for 2013, up slightly from 23.8 million pounds forecast in November.
For 2014, hog prices were left unchanged but lowered for 2013.
On strong demand for fed cattle, cattle prices were raised for both 2013 and 2014.
The USDA lowered its 2013 and 2014 forecast of pork exports based on slightly weaker demand in Asia.