Reduced farrowings, slaughter push pork production down

The USDA has dropped its red meat production numbers for 2026. According to the April World Agricultural Supply and Demand Estimates report released Thursday, pork production has been lowered to 27.975 billion pounds, down 300 million pounds from March, due to reduced slaughter. 

The USDA notes the current outlook reflects the information provided in the March 26 Quarterly Hogs and Pigs report which indicated reduced farrowings through much of 2026. 

The average barrow and gilt price has been reduced to $69 per hundredweight, $1 less than last month. According to the WASDE, hog prices for the second and third quarters were lowered based on recent trends in hog and pork prices, however pork exports were raised for Q1 due to the latest trade data. Exports remain unchanged for the rest of the year. 

Beef production decreased by 20 million pounds to 25.79 billion pounds, as lower steer and heifer slaughter in the first half of the year is partially offset by higher cow slaughter in the first two quarters and heavier dressed weights throughout the year. Cattle prices were left unchanged, with an average steer price of $242/cwt.

Beef exports were lowered for 2026 due to the slow pace of shipments thus far and the reduction of available supplies in the first half of the year. Beef imports have been raised based on recent trade data and continued strong demand for lean processing beef. 

Broiler production, at 48.9 billion pounds, is up 200 million pounds, in part from the recent pace of slaughter and heavier weights through the start of the year. Broiler prices are set at an average $1.24 per pound, unchanged from last month, while broiler exports have been lowered for the second half of the year based on reduced competitiveness in international markets. 

Recent hatchery data has raised turkey production to 4.955 pounds, a 25-million-pound uptick. Turkey prices are unchanged, at an average price of $1.56 per pound. Exports have been raised for the first two quarters on recent trade data and increased production.