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July WASDE forecasts higher red meat, poultry production

Cattle and hog price forecasts for 2020 lowered as industry adjusts to COVID-19.

In the latest “World Agricultural Supply & Demand Estimates” report, the U.S. Department of Agriculture raised its forecast for 2020 red meat and poultry production to 106.54 billion lb., up from 105.00 billion lb. in June. The forecast for 2021 was also raised from 107.39 billion lb. in June to 107.99 billion lb.

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