30 NEBRASKA CATTLEMAN January 2024 Beef Exports The list of headwinds in the global protein market remains large, but Dan Halstrom, president and CEO of the U.S. Meat Export Federation, said opportunities remain strong, allowing exports to add value to the cattle business. Coming off record beef export volume in 2022 (1.477 million metric tons), beef exports are expected to end 2023 down 10 percent from a year ago. Halstrom said several of the markets for U.S. beef started the year slow, but he sees numbers improving for year end. Beef export value is currently at $396 per head, down from 2022’s record high of $449 per head. Pork export volume is forecast to be 2.92 million metric tons, up 9 percent. Pork export value is on record pace so far this year at $63 per head. Factors Affecting Beef Herd Expansion: • Weather – improved in 2023, but still a headwind looking at 2024. • Input costs – inflation, interest rates and labor availability and cost are a major headwind. • Profitability – positive in 2023 depending on moisture conditions; positive forecast for 2024; calf values higher, incentivizing some heifer retention. CATTLEFAX SEMINAR CONTINUED FROM PAGE 29 Kevin Good explains the cattle supply situation for 2024 CattleFax Outlook & Strategies Seminar attendees.
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