The U.S. Department of Agriculture has raised pork production forecasts for both 2015 and 2016.
The pace of hog slaughter in the remainder of 2015 is expected to be higher, according to USDA’s October World Agricultural Supply and Demand Estimates report released Friday.
USDA’s Quarterly Hogs and Pigs report estimated less of a decline in sows farrowing during June-August than indicated in prior intentions and farrowing intentions into early 2016 support an increase in forecast pork production for 2016.
Pork export forecasts are unchanged, but a small increase is made to third-quarter 2015 imports based on recent trade data, the report said.
The forecasts for total meat production in 2015 and 2016 are increased from last month. Beef production for 2015 is raised on larger forecast slaughter of fed cattle in the second half of 2015 and heavier carcass weights, the report said. The forecast for 2016 is raised as cattle slaughter and carcass weights in the first half are projected higher than last month.
For the full report, click here