Browse Data and Analysis

The Canadian cattle herd continues its sustained contraction in 2024. A smaller beef cow inventory will see the 2024 calf crop decline. Improved cattle prices may signal improved heifer retention if moisture conditions and pastures improve, or producers could see this as an opportune time to maximize exiting the industry during a time of better returns.

Lower feed prices are expected to boost producer profits in 2024, thereby increasing domestic beef and pork production. Beef imports are forecast to decrease, and pork imports are expected to remain nearly flat.

In February 2024, U.S. exporters regained market access to the Colombian poultry market, valued at over $100 million annually.

Brazil is the second-largest chicken meat producer in the world after the United States, and the largest chicken meat exporter in the world.

Argentine beef exports in 2024 are projected up at 920,000 tons carcass weight equivalent, 20,000 tons higher than USDA official.

Brazil is currently at the bottom of the cattle cycle, liquidating inventories since 2023. The oversupply of cattle for slaughter has led to a slow price recovery and longer-term impact to the replacement market.