U.S. Beef in High Demand, Consumers to See High Prices and Possibly Lower Availability

U.S. beef exports remain in high demand, as 2022 marks the third consecutive year of decreased cow numbers and the fourth year of a smaller calf crop. As production declines and demand ramps up, prices increase and U.S. supply is being challenged to meet the growing demand. Why has production declined in recent years? The ongoing drought brought down numbers as producers faced the difficult to decision to decrease herd size amidst forage challenges. Because of the lower calf numbers, the foreseeable future almost guarantee continued lower numbers.

The current landscape could produce return consumers to the situation seen nearly a decade ago – where international customers were willing to pay significantly higher for U.S. beef, to the point where domestic availability became limited.

Read more on beef production and record demand here.