USDA’s 2026 projection for beef production was lowered by 110 million pounds from last month to 25.81 billion pounds. A sharp decline in fed cattle slaughter expected in the first quarter was partially offset by a slight increase in second quarter slaughter and heavier carcass weights. In 2026, the dairy cow herd is projected to average 9.57 million head, an increase of 30,000 head, and milk production is forecast to be higher at 234.7 billion pounds, 0.2 billion pounds higher than last month’s forecast. Quarterly commercial pork production forecasts for 2026 are unchanged, leaving the annual production forecast unchanged at 28.3 billion pounds, 2.5 percent higher than last year. In poultry, projected broiler production was adjusted higher in the first half of 2026, reflecting recent hatchery data, while 2026 broiler export projections were unchanged. Projected broiler prices were adjusted lower in the second quarter on recent price trends.
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