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USA - USDA livestock projections to 2019

The livestock sector continues to make adjustments in the first several years of the projections in response to high grain and soybean meal prices in 2007 and 2008, followed by weak meat demand caused by the global economic recession. With producer returns squeezed, production incentives fell, leading to declines in total U.S. meat and poultry production through 2011.
25 February 2010
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The livestock sector continues to make adjustments in the first several years of the projections in response to high grain and soybean meal prices in 2007 and 2008, followed by weak meat demand caused by the global economic recession. With producer returns squeezed, production incentives fell, leading to declines in total U.S. meat and poultry production through 2011.

These production adjustments combine with strengthening meat exports to reduce domestic per capita consumption through 2012. The result is lower production at higher prices, which improves net returns and provides economic incentives for moderate expansion in the sector later in the projection period.Pork production declines in 2009-11 in response to high feed prices and lower demand and then grows for the remainder of the projection period as higher hog prices improve returns.

http://www.ers.usda.gov/Publications/OCE101/OCE101.pdf

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