# Latest WASDE report raises red meat, poultry production - High Plains Journal

> The March WASDE raised 2024 red meat and poultry production forecasts, with higher beef, pork and broiler output more than offsetting lower turkey production. Beef processing for 2024 was raised to 26,325 million pounds, and steer price forecasts were lifted by $3 to $183/cwt for March. Beef import forecasts were also raised.

- Date: 2024-03-20 · published 2024-03-20T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/31165-latest-wasde-report-raises-red-meat-poultry-production-high-plains-journal
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Higher pork and beef output adds supply that is bearish for hog prices, while higher cattle price forecasts reflect firm demand. The net effect is modest because the changes are small relative to total supply.

## Read by commodity

- HOGS: bearish ▼
- LCATTLE: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2024-01-16 | [USDA Raises Meat Production Estimates - Zia Commodities, LLC](https://feedsoft.ai/events/32245-usda-raises-meat-production-estimates-zia-commodities-llc.md) | -0.2% | +4.3% |
| HOGS | 2018-03-05 | [Higher protein production forecast pressures prices for livestock producers \| Western Livestock Journal](https://feedsoft.ai/events/65941-higher-protein-production-forecast-pressures-prices-for-livestock-producers.md) | -0.2% | -13.5% |
| HOGS | 2020-07-23 | [Rabobank: Global pork production under pandemic pressure \| 2020-07-23  \| MEAT+POULTRY](https://feedsoft.ai/events/52128-rabobank-global-pork-production-under-pandemic-pressure-2020-07-23-meat-poultry.md) | +2.2% | +2.2% |
| HOGS | 2018-07-08 | [Record hog and pig inventory forcing prices lower - High Plains Journal](https://feedsoft.ai/events/64198-record-hog-and-pig-inventory-forcing-prices-lower-high-plains-journal.md) | -1.8% | -22.3% |
| HOGS | 2019-02-22 | [Another Record Year for Meat Production Forecast for 2019](https://feedsoft.ai/events/60541-another-record-year-for-meat-production-forecast-for-2019.md) | -1.1% | +25.0% |
| LCATTLE | 2024-01-19 | [Livestock markets to have several positives, according to WASDE - High Plains Journal](https://feedsoft.ai/events/32075-livestock-markets-to-have-several-positives-according-to-wasde-high-plains.md) | +0.9% | +4.7% |
| LCATTLE | 2018-03-26 | [Do we have a placement prediction problem? \| Western Livestock Journal](https://feedsoft.ai/events/66162-do-we-have-a-placement-prediction-problem-western-livestock-journal.md) | -4.3% | -0.1% |
| LCATTLE | 2020-10-02 | [Cattle on Feed report pushes feeders south \| Western Livestock Journal](https://feedsoft.ai/events/50773-cattle-on-feed-report-pushes-feeders-south-western-livestock-journal.md) | +1.5% | -1.0% |

## Sources

- hpj.com: https://hpj.com/2024/03/20/latest-wasde-report-raises-red-meat-poultry-production/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.