The USDA has projected domestic beef consumption to decline for both 2023 and 2024. David Widmar with Agricultural Economic Insights says that could spell trouble for the cattle industry and the overall farm economy. “We have less pounds of beef being demanded or utilized by consumers and it’s going for lower price,” he says. “That means it’s lower revenues, lower calf prices, lower cow prices, lower passenger rent, lower passenger values.”
In 2022, U.S.