The U.S. hit “peak meat” manufacturing in 2022 totaling 107 billion kilos, a file for meat manufacturing that features beef, pork, rooster, turkey, lamb, and veal. Though there are cycles in beef manufacturing and seasonal patterns in demand and provide, meat manufacturing has trended upward over the long-term. Nevertheless, meat manufacturing ought to decline in 2023 and once more in 2024 due principally to produce challenges.
File meat manufacturing final yr was pushed by will increase in beef and rooster manufacturing whereas pork and turkey declined. The meat manufacturing improve was on account of lowered heifer retention and elevated beef cow culling introduced on by drought and value will increase relative to cattle costs. Broiler manufacturing surged as excessive rooster costs fueled income. Pork manufacturing declined about 2.5% to 27 billion kilos introduced on by animal illness pressures and sow productiveness points. Turkey manufacturing was lowered by Extremely Pathogenic Avian Influenza (HPAI).
Whereas every species has its personal circumstances that affected manufacturing, there are some frequent causes for much less manufacturing. First is feed prices. Excessive feed prices scale back income for producers and that results in much less manufacturing. Different manufacturing prices like gas, constructing prices, and better rates of interest additionally result in much less manufacturing. Drought circumstances have harm cattle and beef manufacturing.
In 2023, complete meat manufacturing is anticipated to say no by about 1%, to about 105.9 billion kilos. Beef manufacturing is anticipated to fall by about 5%. Pork manufacturing is anticipated to say no barely (lower than 1%). Broiler manufacturing could present a small improve over 2022. Turkey manufacturing is more likely to improve by shut to three% because it recovers from HPAI and excessive costs ought to ship some income. Whole meat manufacturing is more likely to decline once more in 2024 as will increase in broiler manufacturing are usually not sufficient to offset declining beef manufacturing.
So, was final yr the height of meat manufacturing for a few years to return? Not going. Drought restoration, declining feed costs, and easing illness pressures will increase meat income and manufacturing sooner or later.
Supply: Southern Ag Immediately
