In its monthly “World Agricultural Supply and Demand Estimates” report, the USDA lowered its forecast for both total red meat and pork production for 2013 and 2014.
According to Friday’s report, total red meat production for 2014 is reduced as lower pork and turkey production more than offset an expected increase in beef production.
“The Quarterly Hogs and Pigs report, released on December 27, indicated that the September-November pig crop was fractionally below a year earlier which will constrain supplies of slaughter hogs in early 2014,” the report said. “Although producers intend to farrow more sows in the first half of 2014, the impacts of the Porcine Epidemic Diarrhea virus (PEDv) will likely slow growth in pigs per litter and keep supplies of market hogs relatively tight during 2014.”
The latest reports show PEDv in 22 states, resulting in the deaths of as many as 3 million pigs. California and Wyoming were the latest states to report confirmed cases of PEDv. The total number of new cases now hovers just above 2,000 according to the USDA’s National Animal Health Laboratory Network. Read more here.
The WASDE report also showed no change to 2013 and 2014 pork imports and exports. The USDA raised hog prices as the production forecast dropped.