U.S. beef exports opened the new year on a positive note, but market conditions suggest that 2014 could be a challenging year, according to statistics released by the USDA and compiled by USMEF, a contractor to the Beef Checkoff Program.
USDA's August Cattle on Feed report said July marketings were down 0.7%, July placements up 1.6%, and the number of cattle on fed up 1.6% at the start of August. Daily marketings were much higher than last year as there
The average retail price of choice beef was $5.915 cents per pound during August. That is down 17.5 cents from the month before, down 41.3 cents from a year ago, and the lowest monthly average since May 2014.