USDA revises broiler outlook for 2007
The USDA has revised its forecast for broiler production in 2007. December’s “World Agricultural Supply and Demand Estimates†report anticipates a level of broiler production that is 109 million pounds less than forecast in November.
The report states that broiler production in 2007 is expected to be 35.827 billion pounds.
Broiler exports are now expected to be 125 million pounds less than the board’s October forecast, at 5.405 billion pounds.
Broiler production is estimated to be 35.465 billion pounds this year, essentially unchanged from the board’s previous month’s estimate.
Broiler exports are now expected to be 5.225 billion pounds in 2006, only marginally ahead of the 5.203 billion pounds exported last year. The board’s estimate of 5.225 billion pounds for 2006 year is 186 million pounds less than previously expected.
With the anticipated lower broiler production likely, the USDA increased the wholesale 12-city average broiler price by two cents per pound. Next year’s broiler price could average between 65-70 cents per pound, rather than last month’s price forecast of 63-68 cents per pound.
For 2006, the broiler price should be 64.3 cents per pound, up from last month’s 63.9 cents. In 2005, the broiler price was 70.8 cents.
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