Meat prices are an area that analysts are closely watching. The U.S. Dept. of Agriculture (USDA) Outlook Board Chair says there has been strong demand for meat in domestic and international markets.
“Steer prices, we raised $2.51 per hundredweight based on recent observed prices and supported by continued strong beef demand. We raised the hog price forecast by $2.24 per hundredweight. We’ve just been seeing a really strong carcass value as well as some strength in export demand for pork. Broilers, a little bit of price strength. We raised our price forecast by $0.02 per pound based on observed prices.”
Mark Jekanowski, USDA Outlook Board Chair
When it comes to livestock production, the USDA is looking at higher numbers for beef, pork, and broilers this month.
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