Higher beef, broiler, and turkey forecasts partly offset lower pork production in Q4 2022, leading USDA to raise the forecast for 2022 red meat and poultry production to 107.53 billion lbs. in the December “World Agricultural Supply and Demand Estimates” report.
USDA raised the 2022 beef production forecast to 28.42 billion pounds (lbs.) due to higher expected cattle slaughter as well as heavier carcass weights. Pork production, however, was lowered to 27.06 billion lbs. due to lighter carcass weights. Broiler and turkey production were raised to 46.10 billion lbs. and 5.21 billion…
