LIVESTOCK MARKETS: USDA raises red meat, poultry production forecast

Total red meat and poultry production for 2016 increases to 97.709 billion lb.

The forecast for total red meat and poultry production for 2016 was raised from last month's estimate in the U.S. Department of Agriculture's newly released “World Agricultural Supply & Demand Estimates” report.

USDA pegged beef production to be higher, at 24.945 billion lb., largely due to the pace of slaughter in the second quarter. However, feedlot marketings during the second half of the year are expected to remain relatively high, which also contributed to the increase.

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