The Department of Agriculture’s Economic Resource Service Wednesday released the latest Livestock, Dairy and Poultry Outlook. Memorial Day Week 2021 finished better than 2020. Cow slaughter increased in Q2 and Q3 2021, though fed cattle slaughter declined in Q2.
Hog prices are supporting a strong demand and healthy processor margins, leading to forecasts of 2021 exports at almost 7.6 billion pounds…a healthy 4% above last year.
While a cyberattack disrupted cattle slaughter for two days in June, the Memorial Day week finished above 2020 levels, though well below 2019.
Milk production is looking good on higher-than-expected milk cow numbers. Exports are strong, cheese hitting some record highs, and butter exports higher than in any month since June 2014.
On a final note, the 2021 broiler export forecast is expecting an increase, based on recent data and improved production expectations.
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