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Beef price outlook steady, strong

Beef price outlook steady, strong
USDA’s World Ag Supply & Demand Estimates report left the 2013-2014 beef price projections unchanged. Steer prices are projected in a range of $122-$128/cwt. for the final quarter of 2013, and in a range of $126-$136/cwt. for all of 2014.
USDA raised 2013 beef production estimates, citing higher cow and bull slaughter. For 2014, the beef production forecast is raised, as higher second-half production increases more than offset a reduced first-half forecast. Partly offsetting the increase in later-year marketings and relatively high early-year cow slaughter is a small reduction in carcass weights.
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