At the same time, exports are facing headwinds. Johansson says US agricultural exports are forecast at $141.5 billion for fiscal year 2015, down from last year.
Lower meat and poultry prices in the offing?
April 6, 2015
Lower costs for both fuel and feed grain will likely result in a big increase in meat and poultry production in 2015, which may bring down prices. USDA Chief Economist Robert Johansson predicts a record-high 95 billion pounds of meat and poultry production this year. Speaking at USDA’s Annual Outlook Conference, Johansson said US cattle producers increased the number of beef cows by 2 percent from January 2014 to January 2015.