Cattle outlook: Beef production jumps, price falls

The October WASDE raised USDA’s estimate of 2015 beef production by 245 million pounds and lowered their forecast of the 2015 average price for slaughter steers to $149.19/cwt. They are predicting 4.9% more beef in 2016 and an average price for fed cattle that is $2 to $13/cwt lower than this year. Read more at AgWeb…