The United States Department of Agriculture (USDA) has lowered its projection for U.S. broiler and turkey production in 2018.
In its World Agricultural Supply and Demand Estimates (WASDE) report, released on April 10, backed off of projections it made in its March WASDE report, basing those estimates on recent hatchery data.
USDA broiler forecast
In the April WASDE report, USDA forecast 42.35 billion pounds of broilers produced in the United States in 2018, declining from the projection of 42.6 billion pounds in the previous WASDE report.
U.S. broiler production figures for 2016 and 2017, according to the report, were 40.7 billion pounds and 41.67 billion pounds, respectively.
USDA turkey forecast
The USDA called for 5.95 billion pounds of turkey production in the United States in 2018. That estimate is lowered from the projected 5.98 pounds projected in the March WASDE report.
If the latest turkey production figure is realized in 2018, turkey production for the year will be down from levels in 2016 and 2017. According to the report, U.S. turkey production amounted to 5.98 billion pounds in both years.
Broiler and turkey prices
The agency’s broiler price forecast is raised from last month as stronger demand in the first quarter is expected to carry into subsequent quarters. The April estimates are 93-98 cents per pound, compared to the March estimates of 89-94 cents per pound
Turkey prices are reduced through the year on the continued slow recovery in demand. The April estimates were 82-86 cents per pound, down from the March estimates of 86-91 cents per pound.
USDA will release its next WASDE report on May 10.