The forecast for 2018 red meat and poultry production declined from last month. According to the October USDA report, beef production dropped due to an expected decline in fourth quarter slaughter. Carcass weights were also down due to more cows going to slaughter. Lighter carcass weights also influenced the pork supply. Broiler and turkey production forecasts were reduced with expectations for a drop in slaughter numbers for the balance of the year. The supply/demand report increased the milk production outlook for 2018 and 2019. On a per-cow basis, milk production is growing faster than expected. Dairy cow numbers are also estimated to increase in 2019. The Class III milk price forecast was lowered for 2018, but increased for 2019.
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