Jekanowski : Beef Weighing Down Meat Sector

Even though U.S. production of pork, broilers and turkeys is expected to increase this year, the USDA is still reporting a decline in total meat production; and that is driven by a fairly sharp decline in beef production.  USDA Outlook Board chairman Mark Jekanowski said this could be the second year in a row of declining total U.S. meat production when compared to 2022.

“Total meat production down about 420 million pounds.”

Jekanowski noted total meat production has declined year-over-year only four times of the last 31 years.  And Meyer stressed its beef output dragging down the entire meat sector.  The sharp and continued drop has been attributed to drought conditions nationwide, high feed and input costs leading many producers to push more cattle to market than normal.  That has led to a 6% year-over-year drop in beef production.

But Jekanowski  noted the drop in beef production has led to an increase in steer prices, which could by up roughly 9.5% from last year.

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