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USDA Lowers 2015 Beef Production Forecast

The USDA says total meat production in the U-S this year and next will be higher than the department had forecast a month ago.

The department has lowered it's 2015 beef production forecast but raised it's pork forecast.

The USDA says relatively good forage conditions and higher feed prices are expected to slow the pace of placements of cattle until later this year.

That's going to lower this year's marketings but raise next year's.

The department is now expecting a higher third quarter 2015 slaughter than it had forecast last month.

It's 2016 beef and pork production numbers have both been raised from a month ago.

2015 and 16 U-S cattle prices are reduced from last month while hog prices have been increased.

The USDA's steer forecast for 2015 is now 158-162 dollars per hundredweight and 155-167 dollars for 2016.

The 2015 U-S barrow and gilt average price is now expected to be between 50 and 51 dollars per hundredweight, with next year's average coming in at between 46 and 49 dollars per hundred.

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