The 2013 forecast for total poultry and red meat production has increased from the previous month, reflecting greater broiler, turkey, beef and pork production, according to the United States Department of Agriculture's World Agricultural Supply and Demand Estimates report, one of numerous USDA reports released at noontime January 11.
Broiler production forecast has increased as higher forecast broiler prices and lower forecast soybean meal prices are expected to enhance profitability. Hatchery data indicates higher than previously forecast production and bird weights have increased.
Turkey production looks to be higher, based on current hatchery data and projected lower soybean costs.
The agriculture department estimated hog producers plan to farrow one percent fewer sows during the first half of 2013, compared to in 2012. However, continued growth in pigs per litter in 2013 is expected to more than offset the decline of intended farrowings. Coupled with slightly higher expected carcass weights, the 2013 pork production forecast is raised from last month.
Beef production is raised from last month, but more details will be released when the USDA releases its cattle report February 1.