US beef production

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Cattle Rack Rancher

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Mar 10, 2004
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Manitoba, Canada
from CANFAX friday daily letter:

US Beef Production and Net Supply

Beef production in the United States during 2003 was 26 . 1 billion pounds, down two per cent from the amount of beef produced in 2002 . From the start of 2004 U . S . beef production has been projected to be lower than 2003 . To date US beef production is nine per cent smaller than in the same time period last year . From January to the end of September there has been 18 . 16 billion pounds of beef produced, which compares to last years large production of 19 . 96 billion pounds produced over the same months . Fed cattle supplies in the United States are expected to decrease over the next three months toward the end of 2004 . Therefore the trend of smaller beef production in the United States will likely continue .

Although domestic beef production is expected to be lower in the United States in 2004, the net beef supply (which is the total beef supply when imports and exports are taken into account) is expected to be one of the largest on record . U . S . analysts have estimated that the net beef supply will be between 600 and 700 million pounds more than a year ago . That equals approximately 12 to 13 million pounds per week more than last year . In the third quarter alone net beef imports ( U . S . beef imports minus beef exports) in the United States were 14 times larger than the same time last year . Over the next three months the net imports are expected be approximately nine times larger . The driving factor for this is the lack of export ability in the United States . Due to the United States not being able to access their usual export markets with beef, they are left with extra product for U . S . consumers . This coupled with their beef imports makes the beef supply larger than usual in the United States . U . S . consumers will have to absorb the additional beef in the system this year .

The total U . S . meat supply, which includes competitive meats such as pork and poultry, is also growing . Although the beef production is smaller to date, pork production during the same months in 2004 is six per cent larger while poultry production is also larger . In the United States , domestic demand for all protein sources is very good . Competition among the three main protein sources continues to be strong, however, pork has made some progress in stealing away export markets that were traditionally taken by U . S . beef products .

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