Broiler production for 2010 is now estimated at 36.220 billion lbs., 180 million lbs. above last month’s comparable estimate and 3.1% more than the 35.131 billion lbs. in 2009. Analysts also see more broiler production in 2011 with a revised forecast of 36.752 billion lbs., 74 million lbs. more than the October report and 1.5% over revised production estimate for this year.
Regarding the upward revisions in production, analysts explained the broiler hatchery data “points toward” continued gains in broiler production as the number of eggs set and chicks placed are “large.” They added that higher expected feed costs are expected to slow the rate of increase later in 2011.
However, beef and pork production estimates were also raised for 2010 and 2011 in this month’s report. Higher steer and heifer slaughter is adding to beef production while “exceptional gains” in hog carcass weights are increasing pork production. Taken together, red meat and poultry production for 2010 is likely to be 90.774 billion lbs., 354 million lbs. more than the last month’s estimate and 0.2% above the 90.631 billion lbs. in 2009.
For 2011, USDA now estimates 91.171 billion lbs. of red meat and poultry, 365 million lbs. more than last month’s estimate and 0.4% above the revised total for 2010.
Broiler exports for 2010 were cut back to 6.346 billion lbs., 125 million pounds less than last month’s outlook and 6.9% below the 6.818 billion lbs. exported in 2009. Broiler exports for 2011 were left unchanged at 6.650 billion lbs., a 4.8% increase over trimmed-back estimates for 2010.