Livestock Trend Forecasts
Consumer demand for livestock and poultry products is expected to remain strong, according to USDA’s latest 10 year projections for agriculture. Economist David Boussios says that while both red meat and poultry production are expected to increase over the next decade…” in terms of trade, we can see a continuing expansion of our export numbers as we continue to advance and the world advances with higher incomes and greater demand for livestock.” With strong domestic demand as well. However, increased feed prices over the next 10 years are expected to narrow feed price ratios. Prices received by beef and broiler producers will decline near the end of the decade, with pork prices received remaining steady during that same time period. Milk production is also expected to increase over the 10 year projection period. And while dairy farm prices are forecasted to decline initially, they are then expected to increase during the middle and later years of the forecast time frame.