
Prices Move Up As Beef Supplies Tighten
According to World Agricultural Outlook Board chair Mark Jakanowski, beef supplies continue to tighten.
“Year over year beef production is forecast to be down about 1.2 billion pounds. Part of that reflects as of now, we're still forecasting continued restrictions on cattle imports from Mexico.”
Jakanowski said that has contributed to a stronger price forecast in January.
“Our steer price forecast we raised $4.50 cwt this month. So now forecast at $195.50 cwt for calendar year 2025. And that would be up $8.38 cwt, year over year.”
He noted strong consumer demand for beef is also tightening supplies, and pushing prices up. Jakanowski added the tightening year-over-year beef supplies were not impacted in a slight increase in forecasted month-over-month beef production abroad.
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