70-year low US cattle herds, increasing beef imports due to rancher struggles and drought.
US cattle herds are at their lowest levels in over 70 years, resulting in increased reliance on beef imports. Struggling ranchers are selling off herds due to higher interest rates, escalating loan expenses, and widespread drought. This decline in cattle herds and loss of thousands of ranchers per year is expected to lead to tighter supplies and elevated beef prices for consumers, increasing dependency on beef imports and potentially causing shortages in the US beef supply.
August 01, 2024
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