The U.S. Department of Agriculture has released their latest Beef Production and Price forecasts. World Agricultural Outlook Board Chairman Mark Jekanowski explains,” Our beef production forecast for this year, we lowered by 20 million pounds. This reflects just the fact that we’re anticipating a little bit lower steer and heifer slaughter, partially offset by higher weights and more cow slaughter. But overall on that, leading to about a 20 million pound reduction in U.S. beef production for this month. Year over year, supplies tightening up, so year over year, production would be down about 210 million pounds.”
“Just for some perspective, our current 2026 beef production forecast sits right at about 25.8 billion pounds, a relatively small change in our steer price forecast this month, down to 34 cents per hundred weight. It’s still at a very high level of $241.66 per hundred weight. That would be up $17.30 year over year,” said Jekanowski.
Audio Reporting by Dale Sandlin for Southeast AgNet.