Meat Production Expected To Slip In 2021

The USDA made primarily minor changes to its most recent meat supply and use balance sheet for 2020.

"Looking forward in to 2021 with the tighter supplies especially of corn and soy beans and much higher prices that are expected to follow from that," said World Outlook Board Chair, Mark Jekanowski. "We expect that that will show up in some reduced expectations for meat production."

Because of that,

"We pulled back our forecast for our broiler and turkey production. We also pulled back our forecast for beef production and that reflects in part, lighter carcass weights," Jekanowski added.

He said the only increase expected for 2021 is pork production.

"That reflects the data that we got last month in the hogs and pigs report, and also the slaughter data that we've been observing suggesting that pork supplies are likely to increase. But even there, the increase in pork production forecast is relatively small."

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