The 2019 fourth-quarter beef production forecast was adjusted higher by 15 million pounds from the previous month to 7 billion pounds, which raised the forecast for annual production to 27.2 billion pounds. The increase was based on a faster-than-expected pace of non-fed cattle slaughter in December, in particular beef cow slaughter.

December beef exports totaled 111,315 metric tons (MT), down 1% from a year ago, valued at $682 million (down 3%). 2019 exports totaled 1.32 million MT, 2.5% below the previous year's record volume. After increasing by more than $1 billion in 2018, beef export value eased by 3% to $8.1 billion.

The U.S.-Mexico-Canada Agreement (USMCA) is one step closer to ratification. On Jan. 7, the Senate Finance Committee passed the USMCA with a bipartisan vote of 25-3, putting it on the fast track to the Senate floor.

The 2019 fourth-quarter beef production forecast was raised by 100 million pounds from the previous month to nearly 7 billion pounds. This raised the forecast for annual production to 27.1 billion pounds.

The U.S.-Mexico-Canada Agreement (USMCA) is finally headed to its final destination: the president’s desk. The Senate passed the agreement Jan. 15 with a bipartisan vote of 89-10.

In December, Japan’s majority political party approved the Japanese fiscal year (JFY) 2019 supplementary budget for the Ministry of Agriculture, Forestry and Fisheries (MAFF) to include additional support measures for beef and dairy producers.

The European Parliament, the legislative body of the European Union (EU), voted to allow the U.S. a larger share of the current 45,000-ton quota, beginning in 2020.

The 2019 beef production forecast was raised by 88 million pounds from the previous month to 27 billion pounds. The increase was based on a faster-than-expected pace of fed cattle slaughter and greater expected cow slaughter.