Source: USDA
Beef production in 2024 is raised with higher expected steer and heifer slaughter that is partially offset by lower cow slaughter. The 2025 beef production forecast is also raised as a faster pace of fed cattle marketings is expected to more than offset a slight decline in anticipated cow slaughter. Cattle price forecasts in 2024 and 2025 are raised from last month on firm demand and a faster pace of marketings. Beef imports for 2024 are lowered in the fourth quarter. However, exports for 2024 are raised on firmed demand from key trading partners. No change is made to the 2025 trade forecast.
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