US poultry production forecast raised

CattleNetwork reports that the production forecast for poultry has been raised. Production for both broiler and turkey meat in January 2008 was large. Additionally, hatch data points to relatively large expansion into the second quarter.

However, high feed prices and steadily weakening broiler prices during the year are expected to result in slower broiler production expansion in the second half of 2008 than forecast last month.

Broiler export forecasts are raised as sales are expected to remain strong.

Egg production forecast has been reduced slightly for the year as the industry has not responded as rapidly as expected to egg price increases. Prior year production estimates for poultry and eggs are adjusted to reflect recent slaughter and production revisions.

Turkey and egg price forecasts also are raised for the outlying quarters of 2008 as production responses have been slow and markets are expected to remain firm.