In 2016, beef production was up 5 percent. One livestock economist, Scott Brown, University of Missouri states, “beef exports this year will probably be up 200 million pounds compared with 2015. Moving ahead, demand for U.S. products is critical because export markets may be a significant place to move products.”
He went on to say, “higher quality meat cuts are creating stronger demand and this may be attributed to higher income classes seeing more growth.” Ground beef is averaging $3.67 a pound, while round roasts averaged $5.02 per pound and choice sirloin averaged $8.59 per pound, according to the U.S Bureau of Labor Statistics.
The industry is pretty healthy but continues to transition from the beef shortages of 2014. Larger cattle and beef supplies will still be available in 2017.