USDA is discussing why it is reinstating some key reports that the previous administration cut.
Last week, the Department said that it would bring back the July Cattle Inventory Report, which the Biden USDA cut due to budget constraints. The department’s statistics arm explains why the reports are necessary and who benefits from them.
According to Troy Joshua with USDA NASS, “The July Cattle, the individuals that use that data are livestock producers and meat industries, helping the ranchers, feed lot operators, and processors plan for the herd management, procurement, and prices based on cattle and supply trends. Market analysts and traders they review and they look at that information, forecasting beef prices, supply trends as well. Policymakers and agribusinesses also utilize that data as well, and that’s just July Cattle.”
Joshua says that the USDA will also reinstate the May County Estimates Report.
Analysts say that while low-income households are facing financial pressures, other middle- and higher-income consumers are helping fill the gap for retail beef demand.
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