WASDE: Red meat and poultry production upped for 2024

Red meat and poultry production will be raised for 2024, according to the November World Agricultural Supply and Demand Estimates report.

Higher beef, broiler and turkey production drove the forecast, which was partially offset by a decline in pork production.

Beef production was raised due to higher dressed weights, and cow slaughter more than offset lower expected steer and heifer processing. WASDE projects 27.025 billion pounds to be processed, which was up from 26.967 billion pounds in 2023.

Glynn Tonsor, a professor in the department of agricultural economics at Kansas State University, said the report was not a surprise to him.

“The industry has adapted to delayed breeding herd expansion, lower feed costs and expected lower feeder (hence) fed cattle volumes,” he said.

With the given relationships involved with the heavier dressed weights it continues to be part of the response in the market.

Pork was projected at 27.858 billion pounds, which was up from 27.302 billion pounds in 2023. Broiler production was estimated at 47.184 billion pounds, which was up above 46.387 billion pounds in 2023.

Pork production was lowered on a slower pace of processing in the fourth quarter and slightly lighter dressed weights.