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The U.S. Beef Industry

The U.S. Beef Industry. Dr. Gary Brester MSU Department of Agricultural Economics and Economics AGBE 315 Spring, 2014. OUTLINE. . U.S. Production . U.S. Demand . World Production/Consumption . U.S. Beef Trade . Questions. OUTLINE. . U.S. Production . U.S. Demand

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The U.S. Beef Industry

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  1. The U.S. Beef Industry Dr. Gary Brester MSU Department of Agricultural Economics and Economics AGBE 315 Spring, 2014

  2. OUTLINE • . U.S. Production • . U.S. Demand • . World Production/Consumption • . U.S. Beef Trade • . Questions

  3. OUTLINE • . U.S. Production • . U.S. Demand • . World Production/Consumption • . U.S. Beef Trade • . Questions

  4. “US Beef Production” vs.Cattle Inventory (January 1) 2013 January 1 Inventory equals 89.3 million head (decline from 2012 inventory of 90.77 million head) (2013 calf crop is forecasted to be lowest since 1950, 33.8 million head) Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  5. U.S. Cattle Inventory (January 1) Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  6. Productivity of U.S. Beef CowBreeding Herd Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  7. Nominal Fed AndFeeder Cattle Prices Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  8. Real Fed And Feeder Cattle Prices Source: Livestock Marketing Information Center (2012=100)

  9. OUTLINE • . U.S. Production • . U.S. Demand • . World Production/Consumption • . U.S. Beef Trade • . Questions

  10. U.S. Per Capita Beef Consumption Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  11. U.S. Demand for Beef Choice Retail Beef Demand Index (1980=100) Index Value Source: Glynn Tonsor, Kansas State University

  12. Demand for Fed Cattle U.S. Fed Steer Price vs. U.S. Beef Supply 13 12 120 11 115 110 105 100 10 95 08 07 Price ($/cwt) 90 05 04 06 85 09 93 03 92 80 90 91 75 01 94 97 70 00 95 02 96 65 99 98 60 28 29 30 31 25 26 27 24 Beef Supply (billion lbs)

  13. OUTLINE • . U.S. Production • . U.S. Demand • . World Production/Consumption • . U.S. Beef Trade • . Summary

  14. World Beef Production Source:Foreign Agricultural Service

  15. World Cattle Inventories Source:Foreign Agricultural Service

  16. World Cattle Inventory and Beef Production Source:Foreign Agricultural Service

  17. India, Brazil, China Cattle Inventories Source:Foreign Agricultural Service

  18. U.S., Argentina, Australia, EU-27, Canada Inventories Source:Foreign Agricultural Service

  19. 2012 Beef Consumption By Country (total pounds) Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  20. 2012 Per Capita Beef Consumption By Country (carcass weight pounds) Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  21. OUTLINE • . U.S. Production • . U.S. Demand • . World Production/Consumption • . U.S. Beef Trade • . Summary

  22. U.S. Beef, Veal and LiveAnimal Imports Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  23. Beef and Beef From Live CattleImports as a Percentage of U.S. Supply Percent *CUSTA **NAFTA Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  24. U.S. Beef, Veal, and Live Animal Imports Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  25. 2012 U.S. Beef, Veal, and Live Animal Imports By Country (pounds) Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  26. U.S. Beef and Veal Imports from Oceania Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  27. U.S. Beef and Veal Imports from South America Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  28. U.S. Beef, Veal and LiveAnimal Exports *CUSTA **NAFTA Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  29. U.S. Beef and Veal Exports As APercentage of U.S. Beef Supply *CUSTA **NAFTA Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  30. 2012 U.S. Beef and By-Product Exports By Country (pounds) Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  31. U.S. Beef and Veal Exports to North America Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  32. U.S. Beef and Veal Exports to East Asia Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  33. U.S. Beef and Veal Exports to Asia/Middle East Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  34. Value of U.S. Beef, Veal andLive Animal, By-Product Net Imports/Exports *CUSTA **NAFTA Source: Livestock Marketing Information Center & MSU Agricultural Marketing Policy Center

  35. QUESTIONS 35 Picture Courtesy of Clint Peck

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