The forecast for US beef and veal production shows a steady output trajectory from 2024 onwards, with minor annual increases. In 2023, production was slightly below the 2024 forecast at 12.3 million metric tons. The year-on-year variation shows stability, maintaining around a 0.1% to 0.08% increase annually from 2024 to 2028, indicating a stable, non-volatile market. This culminates in a five-year CAGR of approximately 0.02%, reflecting gradual incremental growth.
Future trends to watch for include potential impacts of climate change on cattle farming, technological advances in meat production, and shifts in consumer preferences towards alternative proteins, which could influence the production dynamics of beef and veal in the coming years.
