During times of tight supply of any commodity, it’s the function of prices, higher prices, to ration the supply. This will likely be the storyline in the beef and cattle market by the fourth quarter of 2024. Currently U.S. beef production is projected to decline 2.9% in 2024 compared to last year. In 2023, beef production was down 4.7% compared to 2022. Or another way to visualize what is happening, beef production in 2024 will be down 7.5% from two years ago. Production is expected to decline again in 2025, 2026 and likely again in 2027. Do you get the picture?
Expanding the discussion…
