The U.S. Department of Agriculture projects U.S. beef production will reach more than 26.9 million pounds in 2023 but will fall to less than 25.2 million pounds in 2024.
At retail, fresh beef prices in August 2023 averaged $6.41 per pound, up almost 6% from August 2022, according to Circana, and slightly ahead of the $6.09 average price for 52 weeks August 2022 through August 2023.