USDA forecasts even lower beef production in 2013
The latest USDA report estimates lower beef production from the third quarter of 2013 to the second quarter of 2014. It has lowered its forecast from last month to 45.4 million kilos for the year. The new estimate is 261 million down on 2012.
The USDA held its forecast of 10.9 billion kilos of beef produced in 2014, over 816 million kilos down on 2012.
The forecast for total red meat production fell from the previous month due to lower production of beef, pork and turkey. Fewer cattle were slaughtered in the second quarter than expected.
Information provided by BeefPoint.