The USDA has cut 2021 beef, pork, and turkey production estimates, while raising the outlook slightly for broilers.
Beef production is seen at 27.742 billion pounds, down 130 million on the month due to slower steer and heifer slaughter and lighter carcass weight expectations, with an average steer price of $122.20 per hundredweight, up $1.00 from August, higher imports, higher exports, and slightly lower per capita consumption.
Pork was reported at 27.739 billion pounds, 85 million less than last month because of an expected slower slaughter rate during the second half of the year, with an average barrow and gilt price of $69.90 per hundredweight, up $.20 from a month ago, with lower exports against higher imports and consumption.
