May 13, 2004

USDA Lowers 2004 US Beef Production Forecast

The U.S. Department of Agriculture lowered its forecast Wednesday for U.S. beef production in 2004 to 25.187 billion pounds, down from the April prediction of 25.256 billion pounds.
 
"Beef production continues to fall as cattle inventories decline and producers retain heifers for breeding," the USDA said in its monthly supply and demand report.
 
The USDA set its U.S. beef production forecast for 2005 even lower at 24.451 billion pounds.
 
Despite current bans on U.S. beef by countries such as Japan and South Korea, the USDA raised its 2004 export forecast by 35 million pounds to 465 million pounds. USDA put the 2005 export prediction at 600 million pounds.
 
Still, U.S. beef exports are far below normal. In 2003, before the U.S. discovered a case of bovine spongiform encephalopathy, or mad-cow disease, beef exports totaled 2.523 billion pounds, according to USDA.
 

Source: USDA