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INDUSTRY NEWS

Read coverage of beef industry news and promotions for producers, operations and cattle organizations.

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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.

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On Feb. 7, 2021, Sen. Amy Klobuchar (D-Minnesota), chair of the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights, filed the Competition and Antitrust Law Enforcement Reform Act.

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

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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?

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The latest Cattle on Feed report was released Jan. 22. Included in this report were placements and marketings for December 2020 and the on-feed total for Jan. 1, 2021.

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Recent USDA reports provide a picture of the hay situation across the U.S. Dec. 1 hay stocks were down a scant 0.6% year over year for the entire U.S.

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