Beef meat production in the US has shown fluctuating trends from 2013 to 2023, standing at 12.519 million metric tons in 2023. Notably, there was a significant dip of 7.87% in 2015, followed by a recovery phase with a 7.89% increase in 2021. Over the past five years, the average annual growth rate (CAGR) was 0.49%. Forecasts indicate a moderate growth trend, with production expected to rise to 12.836 million metric tons by 2028, reflecting a 5-year CAGR of 0.37%.
Future trends to watch for include:
- Advancements in beef production technology.
- Changes in consumer demand for beef products.
- Impact of environmental regulations and sustainability practices on beef production levels.
- Volatility in feed prices and their influence on production costs.