AgLetter: July 1996

Recent reports add to the growing evidence that the uptrend in meat production is slowing, especially for red meats. The number of hogs shipped to packers this spring fell well below earlier projections and updated forecasts point to continued year-over-year declines in pork production during the second half. Alternatively, beef and veal production this spring proved larger than expected as a variety of factors led to heavy culling of the beef cow herd and steppedup shipments of calves to packing plants. But these developments, along with a marked slowing in the movement of cattle into feedlots, foreshadow curtailed beef production the rest of this year and into next year.