# Lower Beef Production Affecting 2024 Prices

> Rabobank expects global beef production to stay relatively constant in 2024, with US and Canadian declines offset by gains in Australia, Brazil and Mexico. US herd contraction from drought continues, and European cow herd declines are keeping carcass prices firm.

- Date: 2023-12-04 · published 2023-12-04T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/32624-lower-beef-production-affecting-2024-prices
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

A shrinking US herd points to firm US beef and cattle prices into 2024, while offsetting global supply growth limits how far prices can rise.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2026-04-21 | [Beef outlook 2026: Lower production, strong prices and rising imports](https://feedsoft.ai/events/19861-beef-outlook-2026-lower-production-strong-prices-and-rising-imports.md) | -0.2% | +3.7% |
| LCATTLE | 2019-12-17 | [USDA projects lower hog prices, adjusts meat production for 2020 - Brownfield Ag News](https://feedsoft.ai/events/55722-usda-projects-lower-hog-prices-adjusts-meat-production-for-2020-brownfield-ag.md) | +0.5% | +4.0% |
| LCATTLE | 2024-06-13 | [Cattle prices holding; production contracting](https://feedsoft.ai/events/29679-cattle-prices-holding-production-contracting.md) | +1.9% | +1.8% |
| LCATTLE | 2023-05-22 | [USDA foresees Less Beef Production and Higher Cattle Prices Cattle Range](https://feedsoft.ai/events/4498-usda-foresees-less-beef-production-and-higher-cattle-prices-cattle-range.md) | +0.8% | +8.0% |
| LCATTLE | 2021-02-24 | [Lower 2021 production on reduced slaughter and weights \| Ag Proud](https://feedsoft.ai/events/48766-lower-2021-production-on-reduced-slaughter-and-weights-ag-proud.md) | +1.6% | +1.6% |
| FCATTLE | 2026-04-21 | [Beef outlook 2026: Lower production, strong prices and rising imports](https://feedsoft.ai/events/19861-beef-outlook-2026-lower-production-strong-prices-and-rising-imports.md) | +0.5% | -0.0% |
| FCATTLE | 2024-06-13 | [Cattle prices holding; production contracting](https://feedsoft.ai/events/29679-cattle-prices-holding-production-contracting.md) | +0.9% | +0.4% |
| FCATTLE | 2023-05-22 | [USDA foresees Less Beef Production and Higher Cattle Prices Cattle Range](https://feedsoft.ai/events/4498-usda-foresees-less-beef-production-and-higher-cattle-prices-cattle-range.md) | +13.4% | +12.5% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/livestock/article/2023/12/04/lower-beef-production-affecting-2024

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.