The U.S. Department of Agriculture adjusted its June 2020 forecast higher for red meat and poultry production in the latest “World Agriculture Supply & Demand Estimates” (WASDE) report due to expectations for higher beef, pork and broiler production that will offset lower turkey production. The latest forecast, at 105 billion lb., was up from the May forecast of 103.58 billion lb. The 2021 forecast was raised slightly from May’s forecast to 107.38 billion lb.
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