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Expectations for U.S. beef production in 2014 are higher than the previous month according to the USDA’s last forecast of the year.
The United States Department of Agriculture World Agricultural Supply and Demand Estimates (WASDE) forecast increased beef exports, cattle prices and beef production estimates over its November predictions.
The December forecast increases total red meat and beef production in 2014 by less than one percent each compared to the previous month’s forecasts. According to the report, the increase is a result of higher expected cattle and hog carcass weights and higher cattle slaughter. The beef production forecast expects imports to remain consistent with earlier predictions