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Unformatted text preview: Poultry : With table egg production continuing to be lower on a year-over-year basis, wholesale egg prices are forecast at $1.50 to $1.56 per dozen in first-quarter 2008, up over 40 percent from the previous year. With a strong increase in broiler meat production in January 2008, the estimates for first-quarter 2008 production was raised by 125 million pounds to 9.08 billion and the estimate for the second quarter was increased by 50 million pounds, bringing the second quarter estimate to 9.4 billion and the 2008 yearly estimate to 37.1 billion. Turkey meat production in first-quarter 2008 is estimated at 1.5 billion pounds, up 6 percent from a year earlier. Even with the higher production and increased stock levels, prices for whole turkeys were considerably higher then during the start of 2007. Poultry Trade : Broiler exports in 2007 were a record 5.772 billion pounds, an increase of 4 percent from the old record (5.555 billion pounds in 2001) and 11 percent higher than in 2006. Shipments of turkey products totaled 554 million pounds in 2007, up 1 percent from the previous year. Egg exports (shell egg and egg products) were 251 million dozen, up 24 percent from a year earlier. Broiler shipments for January 2008 totaled 456 million pounds, an increase of 15 percent from a year ago, while turkey exports totaled 47 million pounds, up 13 percent from the previous year. Egg exports in January totaled 16-million dozen, even with very strong domestic prices. Beef/Cattle : Dry conditions are spreading from Canada and Mexico into the Plains States, resulting in more cows sent to slaughter. Prices are holding steady in the cattle and beef sectors, despite competition with abundant supplies of all meats. Beef Trade : Beef exports increased 25 percent in 2007; however, expectations for 2008 are for a more modest expansion. Annual beef imports declined for the third straight year, as heavy cow slaughter and a weak dollar continue into early 2008. Cattle imports are expected to increase 4 percent in 2008, primarily due to increases in imports of Canadian cattle. Livestock, Dairy, and Poultry Outlook Mildred M. Haley , coordinator Egg Prices Skyrocket LDP-M-165 Mar. 19, 2008 Contents Poultry Poultry Trade Beef/Cattle Beef Trade Dairy Pork/Hogs Contacts and Links Tables at a Glance Red Meat and Poultry Dairy Web Sites Animal Production and Marketing Issues Cattle Dairy Hogs Poultry and Eggs WASDE -------------- Tables will be released on March 25, 2008 The next newsletter release is April 17, 2008 -------------- Approved by the World Agricultural Outlook Board. 2 Livestock, Dairy, & Poultry Outlook /LDP-M-165/March 19, 2008 Economic Research Service, USDA Dairy: Milk yield will grow more slowly in 2008 as a near-term response to high feed prices. Milk production will continue upward through most of 2008, lowering prices. Exports will continue to figure prominently in dairy product price formation. Prices will be lower than in 2007, but not as low as they would be...
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