Strong demand for pork and chicken is expected to continue in 2010, according to the USDA’s monthly World Animal Supply and Demand Estimates report. The agency raised its forecasts for both hog and broiler prices in 2010, reports Meatingplace.com.
The price for barrows and gilts (National Base, Live equivalent 51 percent to 52 percent lean) is now forecast in a range of $44 to $48 per hundredweight, compared with last month's projected range of $43 to $46 per hundredweight.
Meanwhile, the agency raised 2009 export forecasts for beef (to 1.861 billion pounds from 1.846 billion pounds) and broilers (to 6.802 billion pounds from 6.727 billion pounds) but lowered pork exports to 4.151 billion pounds from 4.176 pounds.
For 2010, beef exports are raised from December, but pork and broilers are reduced.
"Recently announced quotas and sanitary requirements for imports by Russia are expected to constrain exports of pork and broilers to that country, and broiler exports may also be limited by trade uncertainties in several other countries," USDA said in the report.
View the entire WASDE report,.