USDA's Adjustments to Poultry Forecasts

US - USDA looked at broiler production and expects heavier market weights to increase overall production.
calendar icon 16 September 2008
clock icon 2 minute read

For 2008, the agency's estimate of broiler production at federally inspected plants increased to 37.04 billion pounds, from August's projection of 36.99 billion pounds.

The first half of the year saw strong broiler exports, causing USDA to increase its forecast for the year to 6.6 billion pounds from 6.5 billion forecast a month ago. USDA held 2009 broiler exports unchanged, reports Pork Magazine.

Because of production increases and a softening domestic demand, USDA reduced its price forecast. It now projects broilers to average 79 cents to 80 cents per pound this year, which compares to the August quote of 80 cents to 82 cents per pound. USDA also reduced its average 2009 price forecast, dropping it to 82 cents to 89 cents per pound versus 83 cents to 90 cents per pound projected last month.

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