The U.S. agriculture community is oftentimes at the mercy of external factors, whether it is a natural phenomenon like blizzards or floods or man-made issues like trade disputes. While it’s impossible to predict those types of factors that could affect the industry, initial estimates for the meat and poultry industry indicate a strong year, with increased meat supplies for processors.
Globally, the African Swine Fever outbreak in China was one of the biggest ag news stories of 2019. That outbreak greatly affected global protein production last year and will do the same in 2020, reports Rabobank. Poultry and aquaculture are the animal proteins most likely to lead production growth worldwide, with beef production stable. Pork production worldwide will be in a steep decline due to China’s ongoing problems.