Beef news

Rule to Enhance Cattle Market Price Discovery U.S. beef production this year is running a little higher than had been expected, despite a gradually diminishing supply of cattle. But USDA outlook board chairman Mark Czekanowski says we are coming to the point where beef output in 2025 is going to have to head downward because of what's been going on over the last three years. Speaker2: We're not retaining many heifers to grow the herd. We keep, you know, pulling those cattle in to feed lots to produce beef today instead of beef months and years ahead. Speaker1: Result will be a projected beef production cut next year of over 2.5%. The other result higher steer prices next year. USDA forecasting an average price in 2025 of $188 a hundredweight. Speaker2: That would be up $1.32 per hundredweight year over year. Speaker1: Some analysts say that might finally trigger producers to retain more heifers for breeding and begin a long awaited herd expansion.