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.