Cattle Outlook: Strong demand

Strong meat demand is a big factor in this year’s record cattle and beef prices. Domestic meat demand was up 4.6 percent in May compared to a year earlier. On average, domestic demand for red meat and poultry has been up 3.0 percent in the last 12 months. May domestic demand for beef was up 6.7 percent compared to May 2013. On average, over the last 12 months beef demand was up 1.5 percent. Export demand for U.S. beef was up 7.5 percent in May compared to a year ago. The average for the last 12 months is up 11.8 percent. Read more at AgWeb Beef Today…