Beef statistics show a large U.S. industry shaped by cattle inventories, a long production cycle, international trade, and changing prices. The figures below separate historical measurements from forecasts and distinguish U.S. data from global outlooks.
Contents
- U.S. beef industry at a glance
- Cattle inventories and the production cycle
- U.S. beef production and domestic use
- Exports and international markets
- Imports and the U.S. supply picture
- Beef prices and the 2026 outlook
- Global beef and meat demand
U.S. beef industry at a glance
The U.S. cattle sector represented about 22% of the $515 billion in total cash receipts for U.S. agricultural commodities in 2024, according to the USDA Economic Research Service Sector at a Glance. That figure places cattle among the most economically significant parts of American agriculture.
Several 2024 measures illustrate the scale of the market:
- U.S. beef production reached 28.7 billion pounds, according to USDA ERS Cattle & Beef Statistics & Information.
- U.S. beef exports were reported at 3.003 billion pounds in the USDA ERS Sector at a Glance summary.
- U.S. beef imports reached a record 4.635 billion pounds in 2024, more than 24% above the previous record set in 2023.
- The value of U.S. beef and veal prices increased 5.4% in 2024 compared with 2023, according to the USDA ERS Chart of Note.
The export and production-and-trade tables use different reported measures and should not be combined as if they were one series. The ERS production-and-trade table lists 20.1 billion pounds of U.S. beef exports and an export value of $112.1 billion for 2024, while the Sector at a Glance summary lists 3.003 billion pounds. These figures are retained as reported by their respective USDA ERS sources rather than reconciled with unsupported arithmetic.
Cattle inventories and the production cycle
The USDA National Agricultural Statistics Service Cattle Inventory report measured the U.S. cattle base on Jan. 1, 2024. The inventory included 87.2 million cattle and calves. Within that total were 28.2 million beef cows, 37.6 million all cows and heifers that had calved, 9.36 million milk cows, and 14.4 million cattle on feed.
The 2023 calf crop was estimated at 33.6 million head. These counts describe animals at specific dates or, for the calf crop, an annual estimate; they are not the same as annual beef production in pounds.
| U.S. cattle measure | Reported amount | Measurement period |
|---|---|---|
| Cattle and calves inventory | 87.2 million head | Jan. 1, 2024 |
| Beef cow inventory | 28.2 million head | Jan. 1, 2024 |
| All cows and heifers that had calved | 37.6 million head | Jan. 1, 2024 |
| Milk cow inventory | 9.36 million head | Jan. 1, 2024 |
| Cattle on feed | 14.4 million head | Jan. 1, 2024 |
| Calf crop | 33.6 million head | 2023 estimate |
The USDA ERS describes the U.S. cattle cycle as an 8- to 12-year cycle of herd expansion and contraction. That long cycle helps explain why a single year’s inventory or production number does not capture the full direction of the beef market.
U.S. beef production and domestic use
Historical USDA ERS figures show how U.S. beef measures changed from 2004 through 2006. U.S. commercial beef production rose from 24.5 billion pounds in 2004 to 24.7 billion in 2005 and 26.2 billion in 2006. Over the same years, total beef disappearance increased from 27.7 billion pounds to 27.8 billion and then 28.1 billion pounds.
The retail-equivalent measure of beef disappearance was 19.4 billion pounds in both 2004 and 2005, then 19.7 billion pounds in 2006. Retail-equivalent and total disappearance are separate measures, so the values should be read within their own series.
| U.S. measure | 2004 | 2005 | 2006 |
|---|---|---|---|
| Commercial beef production | 24.5 billion lb | 24.7 billion lb | 26.2 billion lb |
| Total beef disappearance | 27.7 billion lb | 27.8 billion lb | 28.1 billion lb |
| Retail-equivalent beef disappearance | 19.4 billion lb | 19.4 billion lb | 19.7 billion lb |
| Retail-equivalent value of beef produced | $70.2 billion | $70.8 billion | $71.2 billion |
| Value of cattle and calf production | $34.9 billion | $36.3 billion | $35.5 billion |
| Cash receipts from cattle and calf production | $47.4 billion | $49.3 billion | $49.1 billion |
The same USDA ERS table reports all-fresh-beef retail value at $3.61 in 2004, $3.64 in 2005, and $3.61 in 2006. It reports beef exports of 0.5 billion pounds in 2004, 0.7 billion in 2005, and 1.1 billion in 2006. Those exports equaled 1.9%, 2.8%, and 4.4% of U.S. commercial beef production in the respective years.
Exports and international markets
The USDA ERS Sector at a Glance reported U.S. beef exports of 3.003 billion pounds in 2024. That was about 1% below 2023 and 15% below the record set in 2022. Export concentration was high: the top five U.S. beef export markets accounted for 78% of total export volume in 2024.
Japan and South Korea together accounted for about 42% of U.S. beef exports. China accounted for 16%, while Mexico and Canada together accounted for nearly 20%. These shares describe export volume, not the share of U.S. production consumed domestically.
The long-run comparison with the USDA ERS historical table is also notable. In 2004, U.S. beef exports were 0.5 billion pounds and equaled 1.9% of commercial beef production. By 2006, exports were 1.1 billion pounds and equaled 4.4% of commercial production. The 2024 Sector at a Glance export total was 3.003 billion pounds, but its percentage comparisons are not directly interchangeable with the historical table’s commercial-production basis.
Imports and the U.S. supply picture
U.S. beef imports set a new record at 4.635 billion pounds in 2024, according to the USDA ERS Sector at a Glance. The 2024 total was more than 24% above the previous record set in 2023. Import suppliers were distributed across several countries:
- Canada supplied about 22% of U.S. beef imports.
- Brazil supplied about 15%.
- Mexico supplied 13%.
- New Zealand supplied 12% of U.S. beef import needs.
Together, these four suppliers represented about 62% when the displayed shares are added, although the source reports each share as an approximate or rounded figure. Imports and exports measure different flows: a record import year does not by itself establish a change in domestic consumption, and an export decline does not by itself establish a decline in production.
The USDA ERS Market Outlook forecasts U.S. beef imports at 5.790 billion pounds in 2026, up 6% from 2025. The same outlook forecasts 2026 U.S. beef exports at 2.365 billion pounds, down 8% from 2025. These are forecasts, not completed-year measurements.
Beef prices and the 2026 outlook
The USDA ERS Food Price Outlook reported that U.S. beef and veal prices were 16.4% higher in December 2025 than in December 2024. Prices also increased 0.4% from November 2025 to December 2025. The year-over-year and month-to-month comparisons use different base periods and answer different questions.
For 2026, the USDA ERS Market Outlook forecasts U.S. beef production at 25.790 billion pounds. It forecasts slaughter steer prices at $241.66 per hundredweight, U.S. beef imports at 5.790 billion pounds, and U.S. beef exports at 2.365 billion pounds.
| 2026 U.S. outlook measure | Forecast |
|---|---|
| Beef production | 25.790 billion lb |
| Slaughter steer price | $241.66 per hundredweight |
| Beef imports | 5.790 billion lb |
| Beef exports | 2.365 billion lb |
The forecasted production figure is below the 28.7 billion pounds reported for 2024, while the forecasted import figure is above the 4.635 billion-pound 2024 record. Those are comparisons between a forecast year and a completed historical year; they should not be treated as a realized outcome for 2026.
Global beef and meat demand
The OECD-FAO Agricultural Outlook 2025–2034 projects global beef consumption to reach 84 Mt cwe over the next decade. It projects global beef consumption to stay around 6 kilograms per capita per year on a retail-weight-equivalent basis.
The same outlook projects regional increases in beef consumption per person by 2034. Consumption per capita is projected to rise by about 0.62 kilograms per year in the Middle East and about 0.61 kilograms per year in Asia. These are projections for regional per-capita change, not measurements of U.S. household consumption.
The FAO Agricultural Production Statistics 2010–2024 reports that world meat production reached 374 million tonnes in 2024, an increase of 7 million tonnes from 2023. Cattle meat was one of the three most-produced meat items worldwide in 2024.
The FAO source also reports global milk production of 985 million tonnes in 2024. Cattle milk accounted for 797 million tonnes, or 81% of global milk production. Milk figures describe the broader cattle and dairy system rather than beef output, but they help put cattle agriculture in a global production context.