AgLetter: July 1997

A period of little or no growth in livestock and poultry production appears to be drawing to a close, with prospects for more typical growth rates the rest of this year and next year. Preliminary figures show U.S. meat production during the 12 months ending with June edged below the output of the same period the year before. The nominal downturn contrasts with the uninterrupted growth rate of 2.7 percent annually that occurred on a calendar year basis between 1982 and 1995. However, the momentum in meat production is rebuilding. The latest U.S. Department of Agriculture projections point to a 3 percent year-over-year rise during the second half of this year and a rise of nearly 4 percent for 1998.