U.S. red meat and poultry production in the final half of this year will be 3-percent higher than the same period in 2015, say USDA economists. The rapid expansion in the beef, pork and poultry supply will mean lower market prices across the board, with cattle down 11.7 percent, hogs down 8.3 percent, broiler chickens down 5 percent and turkeys down 6.8 percent.
The expansion in meat production will translate into a per-capita consumption of 214.5 pounds of meat this year, compared to 210.9 pounds in 2015, according to the monthly Livestock, Dairy and Poultry Outlook. With the continued expansion in U.S. herds and flocks, Americans will consume an average of 217.3 pounds next year. This year’s consumption rate of 214.5 pounds equals 9.4 ounces of meat per day per person.
Milk and egg production also are forecast higher in the second half of this year compared to the same period last year. Egg prices are forecast to be 62-percent lower than a year ago, reflecting the recovery from the bird flu epidemic that hit the poultry industry. The USDA estimates a wholesale price of 77.5 cents a dozen for Grade A eggs in New York, compared to nearly $2.05 a dozen during the final six months of 2015.