The USDA’s projecting smaller beef production in 2024.
Beef is seen at 26.1 billion pounds, up 20 million from December, but down 867 million from the current 2023 guess, with an average steer price of $178 per hundredweight, unchanged on the month and $2.46 higher than the year ago estimate. The USDA has higher beef imports against lower exports and consumption this year.
Pork production is pegged at 27.97 billion pounds, an increase of 240 million on the month and 668 million on the year, with an average barrow and gilt price of $58 per hundredweight, down $2 from last month and $.59 from last year.
