News Releases

Date: 8/16/2010

Title: USDA Releases World Agricultural Supply and Demand Estimates for August

WASHINGTON - Total U.S. meat production forecasts for 2010 and 2011 are reduced slightly from last month, according to the U.S. Department of Agriculture’s monthly report. Beef production for 2010 is reduced on slightly lower estimated second quarter output and forecast lighter average carcass weights in the third quarter that more than offset slightly higher slaughter.

For 2011, beef production is unchanged but is shifted between quarters as more cattle are expected to be marketed in the first part of the year. Pork production in late 2010 and 2011 is reduced on lower expected imports of live swine from Canada. Broiler meat and turkey production for 2010 reflects slightly higher estimated second quarter production. Forecast poultry meat production for the remainder of 2010 and 2011 is unchanged. Cattle, hog, and poultry prices are little changed from last month.

Beef imports are raised for 2010 based on the current pace of imports and weakening domestic cow slaughter. Export forecasts for beef, pork, and broilers are raised, partly reflecting strong recent shipments. Stronger demand from a number of markets is expected to support higher exports through the remainder of this year and into next year.

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