USDA raises most meat production estimates

The USDA has raised its production estimates for beef, pork, and broilers.

Beef is estimated at 26.921 billion pounds, up 146 million from April on recent slaughter data and bigger first half of the year placements, with an average steer price of $166.50 per hundredweight, $.70 higher, along increased imports and exports and steady consumption.

Pork is projected at 27.381 billion pounds, 21 million higher, with an average barrow and gilt price of $56.50, down $4.50 due to demand concerns, while imports and exports were up and consumption was down.

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