# USDA increases beef production forecasts - Grainews

> USDA's November WASDE raised first-quarter 2024 beef production by 235 million pounds and second-quarter output by 160 million. Alberta fed cattle prices averaged $385/cwt dressed in November, down $5, with live prices at the lowest since May. Canada is in technical recession, and the author expects weaker demand in 2024.

- Date: 2023-12-04 · published 2023-12-04T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/32852-usda-increases-beef-production-forecasts-grainews
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher beef supply forecasts and weakening consumer demand pressure fed cattle prices, which deepens negative feeding margins and reduces feeder demand for feed grains. Potential spring corn and barley acreage declines could support feed grains later.

## Read by commodity

- CORN: bullish ▲
- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| LCATTLE | 2023-12-07 | 5 | -3.2% | -2.9 | USDA raising Q1/Q2 2024 beef production forecasts adds expected supply, bearish for futures, with weak Canadian demand outlook adding to sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2018-09-25 | [Increasing beef production: What it means for cattle prices](https://feedsoft.ai/events/63190-increasing-beef-production-what-it-means-for-cattle-prices.md) | +0.7% | +0.0% |
| LCATTLE | 2017-02-14 | [US beef production squeezes imports](https://feedsoft.ai/events/72437-us-beef-production-squeezes-imports.md) | +0.8% | +3.1% |
| LCATTLE | 2017-09-27 | [U.S. prepared for expanding beef production - Morning Ag Clips](https://feedsoft.ai/events/68905-u-s-prepared-for-expanding-beef-production-morning-ag-clips.md) | +0.2% | +3.6% |
| LCATTLE | 2018-04-17 | [Lower beef and pork prices forecast - Brownfield Ag News](https://feedsoft.ai/events/65666-lower-beef-and-pork-prices-forecast-brownfield-ag-news.md) | +2.9% | -4.6% |
| LCATTLE | 2021-11-24 | [Higher cow slaughter and carcass weights raise 2021 beef production forecast - Progressive Cattle \| Ag Proud](https://feedsoft.ai/events/44002-higher-cow-slaughter-and-carcass-weights-raise-2021-beef-production-forecast.md) | +2.1% | +1.7% |
| FCATTLE | 2018-09-25 | [Increasing beef production: What it means for cattle prices](https://feedsoft.ai/events/63190-increasing-beef-production-what-it-means-for-cattle-prices.md) | +1.4% | -0.5% |
| FCATTLE | 2017-02-14 | [US beef production squeezes imports](https://feedsoft.ai/events/72437-us-beef-production-squeezes-imports.md) | +2.2% | +4.9% |
| FCATTLE | 2017-09-27 | [U.S. prepared for expanding beef production - Morning Ag Clips](https://feedsoft.ai/events/68905-u-s-prepared-for-expanding-beef-production-morning-ag-clips.md) | +1.2% | +3.0% |

## Sources

- grainews.ca: https://www.grainews.ca/cattlemans-corner/usda-increases-beef-production-forecasts/

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