(NAFB) – The Department of Agriculture’s Economic Resource Service Wednesday released the latest Livestock, Dairy and Poultry Outlook.
While a cyberattack disrupted cattle slaughter for two days in June, the Memorial Day week finished above 2020 levels, though well below 2019. USDA did raise cow slaughter in the second and third quarters of 2021, but fed cattle slaughter decreased in the second quarter.
Meanwhile, strong demand supported hog prices and processor margins through May 2021. USDA raised lean hog prices to reflect assumptions of continuing strong processor demand. Total 2021 exports are forecast at almost 7.6 billion pounds, about four percent above last year.
The milk production forecasts for 2021 and 2022 increased on higher expected milk cow numbers. Exports were relatively strong in April as cheese exports reached a record high, and butter exports were higher than in any month since June 2014.
Finally, the 2021 broiler export forecast increased on recent data and improved production expectations.