The USDA raised most of its meat production outlooks.

Beef is now seen at 28.006 billion pounds, up 16 million with expectations for a higher second half slaughter canceling out lower carcass weights, with an average steer price of $142.80 per hundredweight, $1.70 higher, and lower imports, along with steady exports and consumption.

Pork is pegged at 27.133 billion pounds, an increase of 55 million due to an anticipated gain the slaughter rate against a loss for carcass weights, with an average barrow and gilt price of $71.30, down $2.50, and lower imports and exports against higher consumption.

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