|
NE Iowa | Summary
Beef/Cattle: The production outlook is raised slightly from last month, while price forecasts are lowered. Second-half 2023 production is forecast to increase from last month, raising the annual forecast to 26.976 billion pounds. This is based on higher-expected cow slaughter for the rest of the year that more than offsets a slower-than-expected pace of fed cattle marketing in the third quarter. The outlook for 2024 production is raised to 25.275 billion pounds on an anticipated increase in fed cattle marketings that more than offset a slight pullback on expected weights in the first half of the year. Cattle price forecasts for 2023 and 2024 are lower on recent price data and lower packer margins. Based on August trade data, U.S. beef imports are raised in second-half 2023 and in 2024. However, beef exports are projected to decline further in 2023 and 2024 than forecast last month on stronger competition for Asian markets.
https://www.ers.usda.gov/topics/animal-products/cattle-beef/market-o... | |
|
Cattle prices and imports
