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Over the next few years as the cattle herd builds back, cull cow prices and all beef prices will rise as the U.S. cycles into tighter supplies, giving more market leverage to the producer.
Based on the most recent U.S. Drought Monitor data, the impact of drought continues to be a theme into the new year even as rains bring relief to beef cattle producers in parts of the West.
Export volume of U.S. beef ran at a higher pace in October 2022 than one year ago, while export beef value kept rolling toward a record pace for the year.
A recently published trade report analyzing the effects of American beef imports and exports highlights the strong economic value of the U.S. beef industry’s participation in a global marketplace.
USDA’s Foreign Agricultural Service recently released the latest Livestock and Poultry: World Markets and Trade report. The report provides estimates for production, consumption and trade for beef, pork and chicken for major countries. The article focuses on the Mexican beef and cattle industry.
Year-to-date U.S. cattle imports total 951,910 head, down 6.3% year over year. Total cattle exports thus far in 2022 are 192,415 head, down 36.7% from the record cattle export total last year.
On July 22, the USDA National Agricultural Statistics Service (NASS)
released the midyear Cattle report. It provided a snapshot of the U.S.
cattle herd, which includes both beef and dairy cattle as well as a
glimpse into producers’ outlook for retaining heifers and the
availability of cattle for placement in the coming year.
At the close of the year’s second quarter, beef cattle producers continue to cull a large portion of their breeding herds, as shown in Figure 1 of weekly volumes of federally inspected beef cow slaughter for the previous three years.
For March 2022, the annual forecast for commercial beef production was raised 195 million pounds to 27.57 billion pounds from the previous month, on stronger expected non-fed and fed cattle slaughter.
