USDA lowers total red meat and poultry production

The USDA has lowered its 2022 forecast for total red meat and poultry, with a reduced forecast for pork and poultry offsetting higher projections for beef. 

Beef production is seen at 27.7 billion pounds, 140 million more than in March due to higher placements and an increased slaughter pace for both fed and non-fed cattle.  The average price of $139.50 per hundredweight, is unchanged from last month.  Beef imports grew while exports remained steady. 

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