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Higher Expected Cattle Placements Boost 2016 U-S Red Meat Forecast

The USDA expects total U-S red meat and poultry production to be higher this year and again in 2016.

This year's beef production is raised on heavier dressed weights while pork production is forecast higher with higher slaughter expectations.

The department is boosting it's 2016 beef production forecast based on increases in cattle placements late this year into next.

U-S pork production is expected to increase as pig crops expand.

The USDA has lowered it's expected average steer and barrow and gilt prices for this year from last month.

It now expects steer prices to be between 159 and 166 dollars per hundredweight - down a dollar from April's projection.

The average barrow and gilt price is expected to be between 48 and 50 dollars - down a dollar at the top end.

The department's 2016 forecast average steer price is expected to range between 156 and 169 dollars per hundredweight.

The average U-S barrow and gilt price for 2016 is expected to be between 44 and 48 dollars per hundredweight.

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