The USDA has lowered its 2023 red meat and poultry production estimates.
Beef production is seen at 26.932 billion pounds, down 44 million from October due reductions in steer and heifer slaughter canceling out higher cow slaughter and average dressed weights. The average steers price held at $177.30 per hundredweight, also leaving per capita consumption unchanged while raising imports and exports.
Pork is pegged at 27.217 billion pounds, 72 million under a month ago because of lighter dressed weights, with an average barrow and gilt price of $58.95 per hundredweight, down $.75, along with higher imports, lower exports, and steady consumption.
