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Understanding the Beef Industry: Trends, Demand, and Production

Explore key characteristics of the beef industry such as income contribution, consumption trends, and production statistics. Understand how supply, price, and consumer perceptions affect beef demand. Discover the impact of herd sizes and market preferences on the industry.

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Understanding the Beef Industry: Trends, Demand, and Production

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  1. Characteristics of Beef Industry Animal Science Unit 13

  2. Beef Industry Income 38% total income from all livestock and poultry marketing 18% of total income from farm marketing Largest single segment of the US Agricultural Economy

  3. Beef Consumption • Increased from 1960-1976 • Decreased since that time • Linked to • Supply • Price • Consumer preceptions

  4. Demand for Beef • Depends on • Number of people • Income per person • Changes in people’s meat preferences • People also want more grain fed beef instead of vealers and grass-fed beef

  5. Production Mostly domestic 9% imports 4% of domestic production is exported to world markets

  6. Herd Sizes See fig 13-1

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