The USDA has raised it's total meat production estimate for this year and lowered it's 2015 forecast.
Part of that is based on expected higher beef production this year and lower production now expected for next year.
The department has lowered it's pork production forecast for both this year and next.
The USDA has also adjusted it's price forecasts for cattle and hogs.
It's raised cattle prices for both years and hog price projections for this year.
It's 2015 hog price projections are unchanged from last month.
The department is now projecting steer prices will average 154.41 this year, barrow and gilt prices 76.60.
Next year's average U-S steer price is expected to be between 154 and 165 dollars while barrow and gilt prices are expected to average between 63 and 68 dollars.
