In 2020, the U.S. exported $7.6 billion in beef and variety meat products (down 6% from 2019); variety meat exports to all partners accounted for 11.8% of that value, down from 12.4% in 2019.

For the final quarter of 2020, beef production was lowered 80 million pounds on fewer-than-expected cattle slaughtered in December. This decline was particularly driven by fewer steers and heifers in the slaughter mix. As a result, 2020 beef production is forecast at 27.2 billion pounds, almost unchanged from 2019 production levels.

For the final quarter of 2020, beef production was raised 15 million pounds on greater expected non-fed cattle slaughter that was partially offset by lower average cattle carcass weights. As a result, 2020 beef production is forecast at 27.2 billion pounds.

U.S. beef trade is stabilizing as the ripple effects of the initial COVID-19 disruptions continue to fade. The latest beef trade data for November shows that monthly exports were up 13.2% year over year.

Despite the challenges facing the industry at the beginning of the third quarter, the beef industry has processed more fed cattle in third-quarter 2020 than the previous year.

U.S. global meat protein exports have continued to evolve in 2020. Some of the changes this year reflect ongoing trends in global meat markets, but the COVID-19 pandemic has also affected protein trade.

Packers continue to make gains on processing of fed cattle post-COVID-19 plant disruptions in the second quarter.

The latest monthly trade data were released by the USDA Economic Research Service (ERS) in early November. The September data continued to show adjustments from the beef production and beef price changes earlier in the year, as well as the impacts of global beef demand.

Packers continue to make gains on the processing of fed cattle. Based on USDA Agricultural Marketing Service (AMS) data for actual and estimated slaughter of steers and heifers in August, the pace of fed cattle slaughtered appears to have risen above year-ago levels for the first time since March (see Figure 1).

In July, the USDA National Agricultural Statistics Service (NASS) released the mid-year Cattle report, which provided a snapshot of U.S. cattle inventory as well as a glimpse into cow-calf producers’ intentions for retaining heifers.