Trends point to continued tight supplies of beef, according to the U.S. Department of Agriculture’s (USDA) Livestock Dairy & Poultry Outlook report released in mid-January.
The report shows a significant decline in total cow numbers during 2013. Cow slaughter also is expected to be down during 2014 as ranchers begin rebuilding herds.
Retail beef prices are expected to average higher in 2014 than in 2013, and cattle imports for the year are forecast at 1.95 million head, down 2 percent from last year.
Click here to read the full USDA Livestock Dairy & Poultry report.