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INDUSTRY NEWS

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

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Consumption of U.S. beef by Americans is dropping, but it’s not an alarming statistic for economist Jim Robb. What really determines the demand is how much U.S. consumers are willing to pay for what they eat.

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The European Parliament, the legislative body of the European Union (EU), voted to allow the U.S. a larger share of the current 45,000-ton quota, beginning in 2020.

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USMCA moves forward

After a year of debate and negotiations, the Trump administration and U.S. House Democrats have finally reached an agreement on the U.S.-Mexico-Canada Agreement (USMCA), needed to make it ready for ratification from Congress. 

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October beef exports totaled 108,017 metric tons (MT), an 8% decline from last year's large volume, while export value ($649.1 million) was down 11%. Through the first 10 months of 2019, beef exports were down 2.5% in volume (1.1 million MT) and value ($6.75 billion) from last year's record pace.

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The latest USDA Cattle on Feed report pegs Nov. 1 feedlot inventories at 11.83 million head in feedlots with a capacity of 1,000 head or more. This is 101.2% of last year and up 4.8% from October as feedlot inventories increase to a seasonal peak.

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On Nov. 21, 2019, the USDA Agricultural Marketing Service (AMS) published a study on livestock mandatory reporting (LMR) negotiated slaughter cattle market reporting.

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