USDA lowers forecasts for beef, chicken production

The USDA lowered its forecasts for total red meat and poultry production in its latest monthly World Agricultural Supply and Demand Estimates, or WASDE, report. Beef production was forecast lower, though cattle prices were unchanged from last month. The broiler production forecast was lowered for the first quarter based on production data to date, but subsequent quarters were held unchanged, while the USDA's forecast for broiler prices was raised on robust current prices and demand.

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