A 6.5% drop in beef production could mean higher prices. The USDA says the trend for lower production continues.
Last year the US produced just under 28 billion pounds of beef. This year the forecast is just under 27 billion pounds.
USDA Outlook Board Chairman Mark Jekanowski says that decline is expected to continue, dropping to near 25 billion pounds in 2024. That will result in price increases.
That is an increase of about 4%.