AgLetter: October 1995
The growth in U.S. meat production slowed considerably this summer. Nevertheless, production for all of this year will set another new high and some analysts are projecting further growth for next year. The latest U.S. Department of Agriculture forecast suggests that the combined production of red meats and poultry this year will reach 74.2 billion pounds, up 3.3 percent from last year and the 13th consecutive annual rise. Next year’s increase is projected to be even larger. However, the strong upward pressures on feed prices that have accompanied the various setbacks to this year’s crop harvest raise added uncertainties regarding the extended outlook for meat production.