DAIRY HERD INVENTORY FALLS DAIRY HERD INVENTORY FALLS

U.S. dairy herd numbers fell to 9.325 million head in January which is 76 thousand head lower than last year and the lowest figure since August of 2019.

Read More
MEAT DEMAND MEAT DEMAND

Retail meat demand for pork and beef faltered in 2023, with both indices slipping below 2022 levels.

Read More
ANNUAL TRADE UPDATE ANNUAL TRADE UPDATE

Trade statistics for December 2023 were recently released by USDA, which finalized annual data for 2023.

Read More
Background Image

Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 2/23/2024


DAIRY HERD INVENTORY FALLS

U.S. dairy herd numbers fell to 9.325 million head in January which is 76 thousand head lower than last year and the lowest figure since August of 2019.  U.S. milk cow numbers have been steadily moving lower since May of 2023. Totals for the 24 highest milk producing states also came in lower than a year ago and the lowest since May 2021. The 24-state total was 8.873 million head, 21 thousand head lower than the previous month and 49 thousand head smaller than a year ago.


MEAT DEMAND

            Retail meat demand for pork and beef faltered in 2023, with both indices slipping below 2022 levels. LMIC calculates a meat demand index based on the Consumer Price Index level of 2000. Retail pork demand had been gaining ground for several years after seeing a low point around 2012. Quarters show a similar story.  First quarter pork demand, in particular, has seen increases every year for the previous six, until 2023, which dropped 10 points. Third quarter saw a general rise since 2010 but peaked in 2020 at a level of 124 before dropping more than 20 points in 2021, and another 17 points in 2023. Fourth quarter pork demand has been generally increasing since 2011 and also has peaked recently for the reference time period, reaching 129 in 2021. In the last two years, it fell to 100 and 103 respectively.


ANNUAL TRADE UPDATE

Trade statistics for December 2023 were recently released by USDA, which finalized annual data for 2023. Beef exports for 2023 totaled over 3.0 billion pounds (carcass weight), down 14% (507 million pounds) from the prior year and the lowest in three years. In 2023, beef exports were down to South Korea (-17%), Japan (-22%), China (-20%), and Canada (-2%), while Mexico posted an increase (+12%). Total beef imports for 2023 were just over 3.7 billion pounds, up 9.9% (337 million pounds) from a year earlier. Beef imports increased from Canada (+5%), Australia (+66%), and New Zealand (+33%), while decreases were seen from Mexico (-12%) and Brazil (-8%). Cattle imports in 2023 totaled nearly 2.0 million head, up 14% from the previous year and the highest in three years. Cattle imports from Mexico were over 1.2 million head, up 43% (375,854 head) from the prior year. Cattle imports from Canada declined 3% from 2022.

Livestock Monitor pdf
Logo Light
back to top