The forecast for first-quarter beef production was raised 15 million pounds based on a faster expected pace of cow slaughter in the latter part of the quarter that will more than offset less bull slaughter and lower aggregate carcass weights.

Brazil’s Agriculture Ministry confirmed a case of bovine spongiform encephalopathy (BSE) on Feb. 22, triggering an automatic ban on beef exports to China.

There will be producers who have feed resources and believe profits are to be had in 2023 and 2024. The quickest way for these producers to increase the feeder cattle supply is through the addition of bred cows or bred heifers.

The total number of all cattle and calves on Jan. 1, 2023, was estimated at 89.3 million head, about 2.8 million fewer than the previous year. This marks the fourth year of contraction for aggregate beef and dairy cattle inventories, in the ninth year of the current cattle cycle – the cyclical expansion and contraction of the national cattle herd over time.

Progressive Cattle editors sit down with guests at the 2023 NCBA Cattle Industry Convention in New Orleans.

The latest USDA Cattle Inventory report, released on Jan. 31, confirmed another year of contraction in the beef cattle industry.

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.

In addition to setting a global value record with one month to spare, U.S. beef exports also set annual value records in several individual markets.

Beef production forecast for fourth-quarter 2022 is raised by 70 million pounds on higher expected total cattle slaughter, along with slightly heavier carcass weights. Total 2022 beef production is projected at 28.4 billion pounds, an increase of nearly 2% from 2021.