Lower beef, pork, broiler, and turkey forecasts led USDA to reduce its 2023 red meat and poultry production forecast to 1.07 billion pounds (lbs.) in the latest “World Agricultural Supply and Demand Estimates.”
Lower beef production, at 26.93 million lbs. was the result of reduced steer and heifer slaughter that more than offset higher expected cow slaughter and higher average dressed weights in the fourth quarter, USDA noted. Pork production, at 27.22 million lbs., declined due to lighter hog dressed weights in the fourth quarter.
On the poultry and egg side, broiler production was…
