29-12-2013 15:34 PM | USA

Cattle rise to record as US beef output poised to drop

U.S. beef output will fall 5.7 percent from 2013 to 24.205 billion pounds (10.98 million metric tons) next year, the lowest since 1993, the Department of Agriculture has forecast. Feedlots added 3.1 percent fewer cattle last month than a year earlier, reducing the total inventory to the second-lowest for December 1 since the USDA started collecting data in 1996, government figures showed on December 20.

The USDA this month boosted its outlook for 2014 per-capita beef consumption by 0.6 percent. The American economy will expand 2.6 percent next year from 1.7 percent in 2013, according the median of 78 forecasts compiled by Bloomberg.
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