USDA: 2021 Beef Production Forecast Moves Higher

The USDA's most recent look at beef production and price, included adjustments to the Department's 2021 calendar year, with the production forecast increased by ten million pounds. So, what's expected for 2022?

"No change to beef production, but noteworthy that beef production year over year, we are anticipating it to be down," noted World Agricultural Outlook Board Chair, Mark Jekanowski.

Down he added, by 890 million pounds.  In terms of how production and other factors impact the latest steer forecast for this year and next.

"Steer prices have been strong; we're raised our steer price forecast by $1.25 per hundred weight.  With the support from good demand, we expect steer prices to continue to rise.  We raised our steer price forecast for 2022 by $5.25 per hundred weight."

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