By Justin Walker
Communications Specialist
Meat production and prices should remain up compared to last year’s numbers, according to the newest estimates from the U.S. Department of Agriculture (USDA).
While year-over-year totals are expected to be higher, the newest reports do show a decrease in 2019 estimates.
“While we do have growth year-over-year in beef production, we trimmed that growth a little bit,” World Agricultural Outlook Board Chair Seth Meyer said. “We also think that we have lighter carcass weights coming in.”
Broiler expectations were also trimmed, Meyer said. Prices are still forecast to be down under a cent per pound in 2019.
Hog prices also remain lower year-over-year, coming in at $3.18 per hundredweight.
“On the hog side, we trimmed production a little bit,” Meyer said. “Hog and Pig Report suggested that we had lower farrowings and farrowing intentions for the last quarter of 2018 and for quarters one and two of 2019, and trimming a bit on pigs per litter.”
Steers and turkey saw report-to-report price adjustments, based on demand.
Milk saw changes in supply, demand and price estimates for February. Production was trimmed back in both 2018 and 2019, with growth year-over-year.
“When we look at prices, small changes for 2018 because we are dealing with actual price data,” Meyers said. “Small increases in Class 3 and Class 4 milk prices. We don’t yet have an All Milk price because we haven’t gotten that data yet as it has been delayed.”
Other dairy items also saw changes. Cheese is down a bit in 2019, Meyers said. With large stocks in play, both production and prices have dropped. Butter saw an increase in prices thanks to good strength in demand, despite a decrease in production estimates.