USDA’s World Agricultural Supply and Demand Estimates (WASDE) released today forecasts lower total red meat and poultry production for both 2013 and 2014 compared to projections in September.
Pork production is reduced from last month based on third quarter data and a slower pace of slaughter in October and November.
Pork production forecast for 2014 is also reduced. The September Hogs and Pigs report reflected producer intentions to expand sows farrowing through early 2014, supported by moderating feed costs.
However, this forecast has been tempered by continuing reports of outbreaks of porcine epidemic diarrhea (PED) virus.
Pork exports are reduced from September based on the pace of exports and lowered expectations due to weakened demand in Asia.
The forecast for hog prices is raised for both 2013 and 2014 due to tighter supplies and strong demand.
For the full report, go to www.usda.gov and click on Agency Reports.
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