The USDA lowered U.S. pork production in its monthly “World Agricultural Supply and Demand Estimates” report, citing the spread of Porcine Epidemic Diarrhea virus (PEDv).
In the report, the USDA also lowered pork exports as tight supplies and high prices reduce competitiveness. The hog price forecast was raised on reduced supplies of market hogs and strong demand.
The 2014 of total red meat and poultry production was lowered from January. The report showed higher beef production more than offset by lower pork, broiler and turkey production. Beef import and exports forecasts were unchanged for 2014, and cattle prices raised.