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The 2025 outlook for beef production is forecast at 25.12 billion pounds, a 6% decline from 2024. Next year will mark the third consecutive year of lower production following the record-large volume set in 2022 and will be lowest since 2015, when the sector began to rebuild following the 2009-13 drought.
The May World Agricultural Supply and Demand Estimates report (WASDE) showed the first forecast for the 2024-25 crop marketing year. The corn crop is projected at 14.9 billion bushels, down 3% from last year’s record as a decline in area is partially offset by an increase in yield.
The latest Cattle on Feed report, published by the USDA National Agricultural Statistics Service (NASS), showed a March 1 feedlot inventory of 11.838 million head, 1% above 11.685 million head in the same month last year.
The April World Agricultural Supply and Demand Estimates report (WASDE) showed the 2023-24 U.S. corn outlook having a greater amount of corn used for ethanol, and feed and residual use creating smaller ending stocks.
The January Cattle report noted year-over-year declines in all classes of cattle, with a significant reduction in the number of calves available on Jan. 1 for feedlots, stockers and backgrounders to purchase this year.
The words “financially stressed,” “weary” and “frustrated” paint a less than cheery picture of the current state of the dairy economy heading into 2024 for producers in Arizona, California, Idaho, Oregon and Washington.
The USDA National Agricultural Statistics Service (NASS) released its semiannual Cattlereport on Jan. 31. The total of all cattle and calves on Jan. 1, 2024, was estimated at 87.157 million head, about 1.7 million fewer than the previous year.
Although USDA National Agricultural Statistics Service (NASS) commercial slaughter estimates for the month of December 2023 will be published later this month, the USDA Agricultural Marketing Service (AMS) has published the Actual Slaughter Under Federal Inspection report through the end of the year, which allows for comparison of year-to-year slaughter.
Since last month’s Livestock, Dairy and Poultry report, estimated steer and heifer slaughter was slower than expected in November and early December, suggesting a slower pace of marketings for the month and lowering expectations for the quarter.
