USDA Boosts Cattle Price Forecasts For 2014

Beef Cattle 3

The USDA has raised it’s total red meat and poultry production estimates for 2013 and 14 from it’s November forecasts.

The department says the 2013 changes are minor, based on slaughter data to date.

The 2014 production estimates are increased based on higher expected cattle and hog carcass weights and higher expected cattle slaughter.

The department’s forecast for U-S cattle prices are also raised for 2013 and 14, based on strong fed cattle demand.

The USDA expects steer prices will run around $125.82 per hundredweight this year and from 128-137 dollars per hundredweight for 2014.

Hog prices for this year have been lowered but the forecast for 2014 remains unchanged.

2013 barrow and gilt prices are expected to average 64.40 per hundredweight.

2014 U-S prices are expected to run from 59-63 dollars per hundredweight.

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