Source: USDA
The 2024 beef production forecast is adjusted slightly higher, on reported slaughter data through early September. The latest slaughter data point to heavier-than-previously-expected carcass weights and slight adjustments to the cattle slaughter mix. The 2025 beef production forecast is marginally raised, with a shift of marketings into early 2025, raised placements, and heavier anticipated carcass weights. Reductions to cattle price projections from last month’s forecast reflect changes in recent price data. The beef trade forecasts for second-half 2024 are raised for both imports and exports. For 2025, beef imports are raised in the second half of the year, showing a nearly flat change on an annual basis. Beef exports are raised in all quarters, on improved outlook for demand but remain 13 percent lower year over year.
See the latest Livestock, Dairy, and Poultry Outlook report.
