Washington | Reuters –– U.S. meat and poultry production will rise to a record 95.13 million pounds in 2015, with gains in pork and poultry output more than offsetting a slight drop in beef production, the U.S. Department of Agriculture forecast on Thursday.
Total U.S. pork production was seen up 5.5 per cent at 24.09 million lbs., while poultry output was forecast to rise 3.6 per cent to 39.95 million lbs., both all-time highs, USDA said. Beef production this year was expected to drop 0.1 per cent to 24.22 million lbs.
Average hog prices in 2015 were forecast at $56 per hundredweight, down 26.3 per cent from last year’s record $76.03/cwt, and average steer prices were seen rising 4.8 per cent to a record $162/cwt, the USDA said.
— Reporting for Reuters by Karl Plume, Julie Ingwersen and Elvina Nawaguna.