USDA adjusts broiler production forecast up
Production has risen 2% since January 2023
1 May 2024
1 minute read
By: US broiler production totalled 4,052 million pounds in January, an increase of 2.0% from January 2023, according to the most recent USDA Livestock, Dairy and Poultry Outlook report. This is due to both 0.6% higher average weights and to January 2024 having one more slaughter day, which more than offset a lower per day slaughter rate compared to January 2023.
With the publication of the Poultry Slaughter Annual Summary in February, total broiler production for 2023 was revised slightly and now totals 46,387 million pounds. This revised figure is 4 million pounds above last month’s estimate and an increase of less than 1 percent from the 2022 total.
Weekly preliminary slaughter data indicates that average weights remained elevated during February. Based on this and strong slaughter in January, projected first-quarter production is adjusted up by 50 million pounds to 11,600 million pounds.
Based on the expectation of an increasing margin between production costs and wholesale prices, projected fourth-quarter production is also adjusted up by 50 million pounds to 11,750 million pounds. In total, projected 2024 broiler production is adjusted up by 100 million pounds to 46,875 million pounds. If realised, this would be an increase of about 1% from 2023.
