WASDE trims beef and pork output, raises milk production forecasts

Dr. Mark Jekanowski said WASDE reduced beef production forecasts for 2026 and 2027, citing slower marketings and lower carcass weights; the report includes a roughly 150,000,000-pound reduction in 2027 beef production. He cited record-low July cattle placements shaping lower future supplies and said pork production forecasts were also lowered for both years because of recent slaughter data and lighter expected weights.

Jekanowski also reported higher milk production forecasts for 2026 and 2027 driven by increased cow inventories and some productivity gains, and noted mixed price changes: lower butter and cheese prices for 2026/2027 but higher prices for certain dry milk products and a small increase in the 2026 all-milk price. He flagged stronger beef export prospects into Asian markets and some changes to beef import forecasts tied to tariff adjustments.