The USDA lowered expectations for pork, broiler, and turkey production, while leaving beef steady.
Beef held at 27.905 billion pounds, with a higher processing pace cancelling out lower average weights, with an average steer price of $119.20 per hundredweight, up $2.20 from June while leaving imports steady, raising exports, and reducing per capita consumption slightly.
Pork is projected at 28.151 billion pounds, down 40 million on the month because of an expected slower second half commercial slaughter, with an average barrow and gilt price of $69.40 per hundredweight, down $.80 on the month, steady imports and exports, and slightly lower consumption.
