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Restaurant Industry News
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Sunday June 11th, 2006 |
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Slow growth forecast for meat production, consumption
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US red meat and poultry production in 2007 is projected to grow at a considerably slower rate than expected this year, while consumption is expected to increase marginally, according to an agriculture department forecast.
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The report helps food processors anticipate changes in supply and prices in the future as the market adjusts to variables in production and demand.
Prices for beef and all classes of cattle, except cows, have been declining in response to heavy supplies of all meats - beef, pork, and poultry - and record inventories of cattle on feed.
The falling prices has been good for processors and is likely to be sustained in the beef sector.
The US Department of Agriculture (USDA) forecasts increases of about two per cent in the production of red meat and poultry next year. Egg production will likely increase by slightly more than one per cent, while milk production is expected to grow by slightly less than one per cent, the department stated.
The USDA forecasts total per capita consumption of red meats and poultry in 2007 at 225.6 pounds, an increase of less than one per cent
from the 2006 forecast. Per capita egg consumption expected next year is 260.3 eggs, less than one percent above forecast per capita consumption this year of 258.6.
External Source - For the complete article click here
Source - FoodNavigator
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