US Forecasts Lower Chicken, Turkey Output; More Eggs11 November 2013
US - Broiler and turkey production forecasts for the rest of this year have been revised downwards, according to the latest report from the World Agricultural Outlook Board. Egg forecasts, however, are higher.
The forecasts for total red meat and poultry production for both 2013 and 2014 are lowered from September, according to the latest report, World Agricultural Supply and Demand Estimates.
For 2013, the broiler production forecast is lowered as higher third-quarter production is more than offset by lower expected fourth-quarter production.
Turkey production is reduced for both the third and fourth quarters. Hatchery data points to a sharper-than-expected contraction in fourth-quarter production.
For 2014, broiler production is raised as moderating feed costs support continued modest growth in broiler flocks.
The turkey production forecast is reduced as turkey prices in the third quarter were weaker-than-expected and the contraction in production forecast for late 2013 is expected to carry into early 2014.
The egg production forecast is raised for both 2013 and 2014 as hatchery data points to increasing egg-type laying flocks.
The 2013 broiler export forecast is raised slightly but the forecast for 2014 is unchanged.
Turkey exports are raised for 2013 but the forecast for 2014 is unchanged.
The broiler and turkey price forecasts for 2013 are little changed from September and forecasts for 2014 are unchanged.
Egg prices are forecast higher for 2013, reflecting current prices; the forecast for 2014 is reduced on higher forecast production.
You can view the full report by clicking here.