USDA's release o Friday of Cattle on Feed and Cattle Inventory report data suggests backlog is decreasing in feedyards and beef cow numbers are tightening across cattle country.
Boxed beef prices have dropped to their lowest level since 2017, and beef production will continue at a pace above last year with carcass weights up 35 pounds year-over-year.
Trade data for May shows sharply lower beef exports, likely due to COVID-19 related disruptions in beef production and also in part due to decreased international beef demand.
There is much uncertainty about the future impacts of COVID-19 but even in the best of circumstances, the economic impacts are enormous, with some projections worse than the 2008 recession.
In anticipation of July 4, estimated beef production for the week ending June 27 was 562.3 million pounds, up 5.3 percent year over year.
Retail grocery will transition from limited beef supplies in recent weeks to ample supplies at the same time food service demand is slowly building this fall.
Drought conditions have expanded rapidly in recent weeks and while many regions do not yet face imminent actions, it is not too early to develop drought plans for your ranch.
Barring a major setback, it appears that America's beef markets are moving past the worst of the COVID-19 disruptions that have caused upheaval in recent weeks.