WASHINGTON, D.C. (WJMC) — Supplies of beef cattle and beef could keep shrinking for another two years.
Cattle and beef supplies are getting smaller this year, and will really start to tighten up in 2025. USDA Outlook Chairman Mark Jekanowski expects about a 5-percent decline from this year.
“We’re forecasting beef production down by almost 1.5-billion pounds. Reflecting the fact that cattle inventories are tightening up. And they’re going to continue to tighten. There’s just going to be fewer cattle available to market, moving into next calendar year,” Jekanowski said.
Producers have been at a herd contraction mode, not holding as many heifers for breeding, but instead selling those animals for what have been very good prices. We’ll see even higher prices next year, averaging about 2.5-percent higher. It could be 2027 before cattle producers begin to rebuild the beef herd.