USDA increases meat production outlooks


The USDA increased its 2018 red meat and poultry production outlooks.

Beef production was up 25 million pounds at 27.15 billion, with an increase in the cow slaughter, while the annual price range was steady to $1 per hundredweight lower at $114 to $117, with the USDA expecting lower cash prices to continue in the third quarter. The USDA left imports and per capita consumption unchanged, while raising exports slightly to 3.07 billion pounds.

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