Global uncertainties affect beef production
Global uncertainty continues to have an effect on U.S. beef markets, as do domestic issues including inflation, weather and input costs, according to Brett Stuart, president of Global AgriTrends.
All of this affects beef prices as well. In 1983, beef prices were at an all-time low; now, prices have continually moved upward, with a 26% increase since 2020. High input costs and weather conditions have led to a decrease in the cow herd across the country. In 2022, 13.5% of the beef herd will have been slaughtered, the highest level since 1984. This is a decrease of 1.7 million head in the past two years.
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