The annual livestock slaughter data for 2024 was released Tuesday from USDA. Despite a reduced cattle supply, beef production totaled 27 billion pounds, up slightly from 2023 based on heavier weights, especially in the fall. For 2023, total pounds produced were also about 27 billion pounds, down 5 percent from the previous year, in 2022.
Commercial cattle slaughter during 2024 totaled 31.8 million head, down 3 percent from 2023, but average weights were up 34 pounds. The average live weight for the year was 1,399 pounds, with heavier cattle starting in September, exceeding 1,400 pounds. The average weight for 2023 was 1,365 pounds. Federal inspection accounted for 98.2 percent of the total. Steers were 48.6 percent of the total federally i...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
