There are a lot of numbers are coming out of the USDA’s Outlook Forum in Washington this week. These reports show how the USDA interprets the Phase One trade deal with China and predicts supply and demand for the year ahead.
A few notable numbers coming out of the forum, the USDA expects production red meat and poultry production to increase for another year. A 3% increase is expected to 108.8 billion pounds of production.
The USDA also says export opportunities for 2020 have a positive outlook for all proteins. Secured trade agreements with some of the US’s top importers will back those increased export sale predictions.
Cattle imports are on the rise for the US, with the USDA expecting that to continue into 2020. Imports in 2019 rose to 2.04 million head. That was an increase of 7.6% from 2018.
Exports fell in 2019, USDA says that it will rebound in 2020.
Beef production is expected to increase by 1% to hit a record of 27.48 billion lbs. Heavier cattle year-over-year is expected to support this increase.
The hog sector continues to grow. 2019 marked 6 straight years of increases for the sector, which is expected to continue into 2020 with litter size on the rise.
The USDA is saying they expect commercial hog production to hit a record of 28.89 billion lbs. This is up 5% from what 2019 was. Hog carcass weights are expected to increase as well.
Data from the USDA and DTN Progressive Farmer.