USDA August Meat Production, Prices and Trade Outlook | News

What changes are there in the USDA's latest report on meat production and prices compared to the previous month?

The USDA's August report on meat production and prices this year showed minor monthly adjustments. But as Mark Jekanowski, chairman of the World Agricultural Outlook Board, says, “The overall picture has not changed much compared to last month and several of the previous months…”

This is reflected in trends such as higher slaughter rates for cattle and lower slaughter rates for pigs, growing broiler production and strong demand, which are driving up steer and broiler prices year on year.

As for the U.S. meat trade, Jekanowski said, “The biggest change is in pork exports. We're seeing strong competition in the pork export markets, especially from Brazil. And that's starting to show up in a relative weakness in U.S. pork exports, which we've reduced by 125 million pounds this month.”