Before the conclusion of July, the U.S. Department of Agriculture released the Cattle Inventory report that revealed a lower head count in the national cattle herd, and that is leading to higher prices.
USDA Chief Economist, Seth Meyer, said consumers are watching what he calls an "impressive run" on meat prices.
"We had really fantastic meat demand in the United States. 2020 was a record high or capita use. So domestic consumption of meat was record high in 2020
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The beef cattle industry is bouncing back from the pandemic, and continued progress is expected in 2022. Beef prices are near record high, and consumer and wholesale beef demand are both at 30-year highs as the U.S. and global economy recover
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Strong demand is fueling higher beef cattle prices this spring, that according to livestock market economist Dr. Derrell Peel. Peel said demand for all the meats is strong right now, especially for beef.
“If you look across all the meats, beef, pork and poultry prices are all at the wholesale level running very strong. So,
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World Board Outlook Chair, Mark Jekanowski, said the beef export forecast for 2020 has not changed, despite some encouraging numbers recently.However, he said the forecast for 2021 has been pulled back a bit because of an weakness in observed global demand...
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Randy Blach, CEO of Cattlefax, said demand for beef has come a long way in the past 20 years. He was a featured speaker during the recent Feeding Quality Forum sponsored by the Certified Angus Beef program. Blach noted the low in beef demand was basically 1998-2000
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After decades of decline, USDA reports demand for U.S. beef is on the way up.
"We've gone through a major change in beef demand from where we were back in the early 1980s from where we are currently today,” said CattleFax executive vice president Randy Blach. “From 19...