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Market Reports

Read new forecasts and indicators involving beef cattle and feed markets. Find out what factors are affecting prices.

LATEST

The latest meat trade data shows that meat exports are continuing to help offset record meat production in 2018. Each of the major meats – beef, pork and poultry – is projected to reach record levels in 2018 and will combine to push total U.S meat production to a record level of 102.3 billion pounds, up 2.6 percent year over year.

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The forecast for 2018 beef production was lowered by 150 million pounds to 26.9 billion pounds. The revision is based on adjustments to the third quarter and, in the fourth quarter, expectations of fewer steers and heifers to be slaughtered more than offset the anticipation of more cows added to the slaughter mix.

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U.S. beef exports cooled from the record results posted in August, but remained very strong in September and were still significantly higher year over year.

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Steer slaughter continues to run below year-ago levels so far this year. This is despite the fact that the quarterly feedlot inventories have shown more steers on feed in 2018 compared to last year.

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U.S. beef trade continued the impressive performance of recent months in the latest monthly trade data for August. Total monthly U.S. beef exports were up 9 percent with a year-to-date total up 14.2 percent year over year.

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The 2018 beef production forecast is unchanged from the previous month’s forecast at 27.1 billion pounds. However, the 2018 production forecast reflects lower expected production in the third quarter that offsets higher anticipated production in the fourth quarter.

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