In addition to setting a global value record with one month to spare, U.S. beef exports also set annual value records in several individual markets.

Idaho extension economists look at hay prices and factors influencing pricing for 2023.

It doesn’t always take an article to make a point. Sometimes a picture is “worth a thousand words.”

The latest USDA Cattle on Feed report pegged the Oct. 1 cattle on feed inventory at 11.45 million head, down 0.9% year over year. This is the first year-over-year decrease in the monthly on-feed inventory since December 2021.

USDA’s Foreign Agricultural Service recently released the latest Livestock and Poultry: World Markets and Trade report. The report provides estimates for production, consumption and trade for beef, pork and chicken for major countries. The article focuses on the Mexican beef and cattle industry.

Both feedlot inventories and cattle slaughter have remained stubbornly high this year due to drought-forced movement of cattle out of the country. Feedlot production, cattle slaughter and beef production are all expected to decrease sharply in 2023.

The year kicked off with a cattle inventory estimated to be down 2%, thanks to a 2021 calf crop down 2.3% from the previous year, due largely to the pressures brought on by drought and high input costs for feed, fuel, fertilizer and labor. This Market Intel provides farmers and ranchers with a snapshot of what is happening to the U.S. cattle herd as we head toward the finish line of 2022.

The U.S. beef export market has shown that it will continue to expand, even if export access is lost to key countries.