The US beef cattle ranching and farming industry's gross output is projected to grow from $93.37 billion in 2024 to $98.98 billion by 2028. This represents a steady increase with a compound annual growth rate (CAGR) of approximately 1.48% over the five-year forecast period. The consistent year-on-year growth underscores a positive trajectory for the sector in the coming years. Though the value for 2023 isn't explicitly provided, it is vital for context as the baseline for growth calculations.
Future trends to watch for include:
- Technology advancements in cattle farming for efficiency gains.
- Shifts in consumer preferences toward more sustainable practices.
- Impact of global trade policies on beef exports.
- Environmental factors affecting feed and grazing lands.
