US beef imports likely to peak this year before falling through to 2029, USDA forecasts

United States beef imports are expected to peak this year at about two million tons, before falling to around 1.36mt in 2029 as a result of herd rebuilding and higher production, the US Department of Agriculture’s Economic Research Service says in a forecast released late last week. In the same report, USDA projects US beef exports to decline through to 2027, reaching less than one million tons, before recovering to more than 1.4mt in 2030.