Cattle Market Update Derrell S. Peel Breedlove Professor of Agribusiness and Extension Livestock Marketing Specialist Oklahoma State University

Commercial Beef Production >>> Beef Cow Inventory >>> Livestock Marketing Information Center Data Source: USDA-NASS, Compiled & Analysis by LMIC and Derrell Peel 2019 Production, 2019 inventory forecast

Data Source: USDA-AMS, Compiled and Forecasts by LMIC Livestock Marketing Information Center

2019 Meat Production and Consumption Consum. Change Consum. Per Capita Change 2017 2018 2017-2018 2019 2018- 2018-2019 Million lbs. % Million lbs. Retail Lbs. Beef 26187 27032 +3.2 27504 +1.7 +0.5 57.6 +0.7 Pork 25584 26523 +3.7 27131 +2.3 +1.2 51.6 +1.8 Broilers 41217 42342 +2.7 43125 +1.6 +2.0 93.3 +0.8 Total 99739 102651 +2.9 104454 +1.3 221.0 2018 projected and 2019 forecast LMIC, October 3, 2018

Data Source: USDA-FAS, Oct 2018

Data Source: USDA-FAS

2019 Cattle and Beef Market Issues Herd inventory likely peaking More beef production, but slowing, due to continued expansion Domestic and international demand remain key Prices mostly steady as demand offsets increased supply Record meat supplies a challenge Trade/U.S./Global economy uncertain