The forecast for 2024 red meat and poultry production was raised in October from the previous month’s forecast, as reported by the recent World Agricultural Supply and Demand Estimates report issued Oct. 11.
WASDE noted that higher beef production more than offset lower pork, broiler and turkey production. Beef production was raised on higher cattle slaughter and heavier dressed weights for the third and fourth quarters.
Pork production was lowered on a slower pace of slaughter and lower dressed weights. Broiler production for the third quarter was lowered based on recent processing data, which more than offsets a higher fourth quarter forecast due to recent hatchery data.
Turkey production was lowered based on recent production and a slower than previously expected growth rate in the laying flock. The forecast for 2025 red meat and poultry production was raised on higher beef, pork and broiler production.
Beef production was raised on higher steer and heifer processing, particularly in the first half of the year and heavier weights. Pork production was raised as the pig crop and farrowing intentions estimates in the Sept. 26 Quarterly Hogs and Pigs report pointed to larger hog supplies, particularly in the first half of 2025, which will translate to increased pork production during the year.
Broiler production was raised due to a higher price outlook. Turkey production was lowered as the reduced price outlook in 2024 and 2025 was expected to dampen the rate of recovery. The report noted that total egg production was unchanged.
The report also forecast lower poultry exports in 2024 and 2025.
The October production projections for the first three quarters forecast 47.1 million pounds of broilers and 5.11 million pounds of turkey. It also estimated 9.06 million dozen eggs being produced. The October price estimates for the first three quarters for broiler was estimated at 129.1 cents per pound and 93.8 cents per pounds for turkey. Egg prices are estimated at 269.5 cents per dozen.
For the first quarter of 2025, the report forecasts broiler production at 11.7 million pounds and turkey at 1.265 million pounds. It also indicates egg production at 2.345 million dozen eggs. The first quarter prices are forecast at 130 cents a pound for broilers, 93 cents a pound for turkeys and 225 cents per pound for eggs.
Dave Bergmeier can be reached at 620-227-1822 or [email protected].
