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Where’s the Beef? Fewer Cattle Points to Higher Prices Ahead

AFBF Staff

photo credit: AFBF Photo, Dylan Davidson

A decline in beef production due to low cattle inventory could lead to record-high beef prices for consumers, according to a market report from the American Farm Bureau Federation.

The U.S. Department of Agriculture reports beef inventory hit its lowest level since 1948 after a drought impacted large beef producing states, such as Texas, Oklahoma and Missouri, which reduced the grazing abilities of animals on their pastures and restricted the number of cattle per herd.

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