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American Producers Looking At Improved Prices For Cattle, Hogs And Broilers

U.S. cattle, hog, and broiler price forecasts are all higher than they were a month ago.

The USDA's latest World Agricultural Supply and Demand Estimates report credits the increases solely to strength of demand.

Beef production estimates have been raised once again due to large inventories.

The department notes total cattle and calf numbers to start the new year are up for the third year in a row.

Conversely, pork production has been reduced for the first quarter of 2017.

The USDA says that's a result of a slower pace of slaughter in combination with slightly lighter carcass weights.

The WASDE report has dialed back broiler production as well, as it's expecting a slowdown during the second half of the year.

It also notes no changes have been made to turkey production estimates, but the price forecast is lower than it was in January due to reduced on-farm prices.

The department suggests 2017 American milk production will be up from last year, as dairy cow inventories are slightly up and the milk produced per cow continues to improve.

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