USDA Recognizes US Beef Exports

Minimal changes were made to USDA's 2021 beef production forecast at 27.905 billion lbs. That is 2.7% over last year. The beef balance sheet did tighten up over last month as they raised export sales more than their import increase. They now have exports 13% over last year. Current YTD sales are 31% over. USDA would suggest high wholesale beef prices are turning off export demand (more than offset by a strong US consumer).

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