November 13, 2013
US pork production forecast declines
The latest report from the World Agricultural Outlook Board revealed that US pork production for the rest of this year and for 2014 has been forecast downward.
According to the latest World Agricultural Supply and Demand Estimates (WASDE) report, the forecasts for total red meat and poultry production for both 2013 and 2014 are lowered from September.
For 2013, pork production is lowered from last month based on third-quarter data and a lower-than-expected pace of slaughter in October and early November.
For 2013, the pork production forecast is reduced for 2014. In the September Hogs and Pigs report, producers indicated intentions to expand sows farrowing through early 2014 and increases in farrowings during 2014 will likely be supported by moderating feed costs. However, the continuing reports of porcine epidemic diarrhoea (PED) outbreaks have tempered the 2014 pork production forecast.
Pork exports are reduced from September, based on the pace of exports and lowered for 2014 on slightly weaker demand in Asia.
For both 2013 and 2014, hog prices are raised on tighter-than-expected supplies and firm demand.