US cattle inventory expected to drop by 2023

Published Dec 16, 2022

Tridge summary

The United States is expected to experience a decrease in cattle inventory in 2023 due to droughts caused by the La Niña phenomenon, leading to increased slaughter numbers. This trend, which has been ongoing since 2018, has resulted in higher beef slaughter numbers and lower bovine inventory. The extent of the production decline in 2023 depends on the improvement of dry conditions. The drought has also resulted in more heifers being culled and higher meat prices, which are expected to continue to rise due to tight supplies in the next 3-4 years. This situation could potentially increase export opportunities for countries like Australia, as the U.S. seeks to make up for the production shortfall.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to various reports, the cattle inventory in the US would be reduced in 2023 due to the droughts that are going through due to the La Niña phenomenon. In order to avoid losses, farmers would send more animals, especially bovine females, to slaughterhouses. The United States is also being affected by the La Niña phenomenon, but in this country there is no heavy rainfall but rather droughts. According to an article on the Drovers website, 2022 in the US will be remembered for the historic droughts that forced herd liquidation. It's no secret that beef slaughter reached above-average levels throughout the year. Many of the states with the largest beef cow inventories suffered from drought for most of the 2022 growing season, the article's author said. However, the downward trend in bovine inventory in the United States is not new. Statistics from Oklahoma State University economist Derrell Peel show a steady decline since 2018, from more than 31.5 million head to 29.6 ...

Source: MXContexto