US livestock markets respond to higher feed costs
Higher feed prices have put a halt on expansion of animal production in the US. Beef production and trade remain steady, but no growth is expected in pork and poultry markets, according to the latest USDA estimates.
Broiler meat production in fourth-quarter 2010 is forecast at 9.2 billion pounds (4.17 billion tonnes), up 4% from the previous year. For 2010, broiler meat production is forecast at 36.6 billion pounds (16.44 billion tonnes), 3% higher than in 2009.
Broiler meat production is expected to increase only 1.5% in 2011 due to the impact of a slowly growing economy and higher prices for both corn and soybean meal.
Turkey meat production in fourth-quarter 2010 is expected to total 1.45 billion pounds (657 million tonnes), slightly higher than the previous year. Turkey meat production in 2010 is forecast at 5.6 billion pounds (252 million tonnes), making it 1% lower than 2009 and the second consecutive year of declining production.
The full November report of the Economic Research Service of the USDA can be read HERE.
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