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USDA Holds Price Forecast For Pigs, Cattle For 2016

Small reductions in U-S beef and pork production aren't enough to get the USDA to change it's price forecast for the year.

The department says first quarter beef production will be lower than forecast a month ago based on the pace of slaughter and lower carcass weights.

The pork production forecast is reduced on slightly lighter carcass weights.

The USDA says it still expects the 2016 average steer price to range from 133 to 142 dollars per hundredweight.

The average barrow and gilt price forecast remains 46-49 dollars per hundredweight.

Despite the lower beef and pork production forecasts, the department says total 2016 U-S red meat and poultry production will be higher than the February prediction because of higher first-quarter broiler and turkey production.

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