Maloni Intelligence Chart of the Week

August USDA Beef Supply Update

Written by David Maloni | Aug 25, 2023 4:24:58 PM

Earlier this month the USDA updated their 2024 beef output forecasts. Readers might remember that due to the historically small cattle supply, beef output is expected to be especially tight next year. The good news is the USDA bumped their beef production forecast higher from July. However, output will still fall far short from 2023 and would be the lowest in nearly a decade. And if that wasn't enough, the near 7 percent decline in production next year would be the biggest drop since the Pittsburgh Steelers were on their way to winning their fourth Super Bowl in 1979 (Homer call....I know).

 

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