What Can Beef Producers Expect Into 2020?

The USDA's cattle forecast moved higher in most meat categories this year.

“For meat production for 2019 basically all we're going is true-ing up our estimates based on more recent data,” said acting World Agricultural Outlook Board Chair, Mark Jekanowski.

He added 2020 meat production numbers both rose month-over-month and year-over-year; despite a small reduction in beef production, from the previous month.

“Still up year-over-year but our forecast was reduced slightly based on our expectations of a little bit slower cow and fed cattle slaughter and also slower placements 4th quarter which will show up later in 2020.”

The adjustment down for beef production is reflected in monthly price increases for 2019 and 2020. Although prices are expected to be slightly lower for beef year over year.  Forecasts and exports of beef continue to be significantly up for 2020 as well.

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