The U.S. Department of Agriculture recently released the August “World Agricultural Supply & Demand Estimates” report, which forecasts lower total red meat and poultry production for 2016 but slightly increases the 2017 forecast. USDA said increases in beef and turkey production in 2016 were more than offset by lower pork and broiler production forecasts.
The agency estimated higher beef production based on expectations for greater third-quarter steer and heifer slaughter. Howe
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