beef prices

When it comes to the meat production and price forecast for the month of February, USDA World Ag Outlook Board Chair Mark Jekanowski says things are pretty straight forward.  He noted things are looking up when it comes to beef production and price.   “...

USDA’s January 1 cattle inventory report places the total number of cattle and calves at 89.3 million head, consistent with trade expectations for a 3% year-over-year drop.  The decline comes as cattle producers face a fourth consecutive year of contraction within the cattle cycle.  That’s a...

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 p...

Beef producers could enjoy better market conditions, and perhaps a better bottom line in 2023, that according to one University of Idaho expert.  Dr. Phil Bass said in his assessment the relationship between producers and packers has improved over the past 12 months, and he’s hopeful the positive dialogs as of recent will continue.  He noted that...

Agriculture Secretary Tom Vilsack is non-committal on supporting a renewed push in Congress for livestock marketing reforms.  Vilsack was careful in recent comments to not to overstep the general support he voiced last year for the Grassley-Fisher bill to boost price discovery and beef industry competition.   “...

Recent reports from the USDA reveal current trends in the cattle markets.  American Farm Bureau Federation Economist Bernt Nelson, called the recent report bullish, with total cattle on feed coming in right around 11.4 million, down 1% year-over-year.  He note...

Consumers will likely have few meat selections at their local grocery in 2023, and U.S. production is forecast lower next year.   “The main reduction year-over-year in terms of meat supplies is coming from is coming from beef," according to USDA Outlook chairman Mark Jekanowski.  He added it’s...

U.S. beef producers face higher input costs this year, predicted up 7% when compared to 2021.  ERS reported earlier this week the farmer’s share of the retail value of beef also increased year over year, but rising input costs, especially for cattle feed, may limit farmers’ ability to benefit from higher cattle prices.   Feed ex...

Tyler Cozzins, agricultural economist at the Livestock Marketing Information Center, said despite the high beef prices, demand appears to be holding steady.  He noted for the month of June, retail beef prices were $7.66 per pound, up 20 cents per pound from last year.  He adde...

American shoppers struggling with inflation are looking at higher beef prices continuing in their local meat cases.  Because of high feed prices and severe drought, ranchers were forced to reduce their cattle herds.  Grain prices have dropped to their lowest levels since Russia invaded Ukraine, but Reuters says that might not mean lower food prices right away at the grocery store.  Corn fu... Read