Livestock, Dairy, and Poultry Outlook: October 2020
Poultry and Eggs: The third-quarter broiler production forecast was increased on August data, and the 2021 forecast was increased to reflect the revision to 2020. The broiler export forecast was increased on expectations for improving global demand. The fourth-quarter broiler price forecast was unchanged, while the 2021 price forecast was decreased on expectations for continued weak demand and abundant supplies. The table egg production forecast was unchanged, while the fourth-quarter price forecast was increased to reflect expectations for strong demand. The second-half export forecast was increased on expectations for continued firm overseas demand. The third-quarter turkey production forecast was adjusted up based on recent slaughter data. Turkey export forecasts were increased to 550 million pounds in 2020 and 570 million pounds in 2021. Turkey import forecasts were raised on August trade data. The average price for turkey in the third quarter was 111.3 cents per pound, and the fourth quarter forecast was increased to 112 cents. Forecast turkey prices for the first half of 2021 were also increased.
See the LDP Outlook.