Red meat and poultry, the main courses in the 2019 menu
The latest "World Agricultural Supply and Demand Estimates" released by USDA forecast an increased production of red meat and poultry for 2019.
Nevertheless, the total red meat and poultry production forecast for 2018 is lowered from last month.
For 2019, larger beef supplies and firm global demand are expected to support stronger U.S. beef exports relative to 2018. Pork exports are forecast to increase next year as expanding supplies and competitive prices support demand for U.S. pork. Beef and pork imports are forecast higher in 2019. Broiler exports are forecast higher on expected continued gains in foreign demand, says the report.
For 2019, fed cattle and hog prices are forecast above 2018 as relatively strong demand absorbs expected increases in supplies. The 2019 broiler price is forecast lower than the previous year on increasing supplies and competition from expanding red meat supplies. Turkey prices are forecast to increase with slow growth in supply and strengthening demand. Egg prices are reduced in 2019 with slow growth in strengthening the spikes in early 2018 prices are not expected to be repeated in 2019. However, demand is expected to remain robust, in the face of increased production.
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