With beef availability projected to decline sharply in 2023, and beef demand remaining on solid footing, cattle prices are almost certain to rise.
The most recent USDA monthly estimates peg the domestic per-person beef supply to decline by 5.6% next year. If this occurs, it will be the largest annual decline in U.S. consumer beef availability since 1987.
There have been four instances since 2000 when per-capita domestic beef availability fell by 3.8% or more, and all four translated to increases in fed-cattle prices.
When the supply dropped 4% in 2003, fed-steer prices advanced nearly…
