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.

The current outlook communications for the cattle and beef markets in 2021 are commonly optimistic – bullish. The underlying market fundamentals support this position.

The Cattle Inventory report provides lots of information but does not answer one important question: What is the inventory of feeder cattle available to be placed in feedlots for finishing?

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.

Last year, the USDA released the 2017 Census of Agriculture. The agriculture census is taken every five years going back to 1840. Many, including me, filled out and returned a 2017 census form, providing information about our farming operations.