Meat and poultry production forecast lowered

The U.S. Department of Agriculture slightly lowered its 2022 forecast for red meat and poultry production from last month to 106.46 billion lbs. due to lower pork and broiler production. According to the latest “World Agriculture Supply and Demand Estimates” report, pork production was lowered to 27.16 billion lbs. on a slower-than-expected pace of slaughter in June as well as lower expected second-half carcass weights. Broiler production was lowered to 45.30 billion lbs. on Q2 slaughter data but was partly offset by…