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National & World Ag News Headlines |
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Cattle Production Tops U.S. Cash Receipts
USAgNet - 06/28/2016
Cattle production is one of the most important industries in the United States, accounting for $78.2 billion in cash receipts during 2015. This represents 21 percent of the Economic Research Service's forecasted total cash receipts of $377 billion from agricultural
commodities in 2015. Corn being the nation's second largest cash receipt forecasted at $47.2 billion in 2015.
Modern beef production in the U.S. is a highly specialized system that spans from cow-calf operations that typically graze pastureland to cattle feedlots focusing on finishing cattle on grain for slaughter. In 2015, the beef industry saw the first increase in cattle and
calves production since 2011, producing 41.5 billion pounds, a 3 percent increase from 2014. Total cattle and calves inventory as of January 1, 2016 was 92.0 million head, also 3 percent above previous year.
Meanwhile, gross income from cattle and calves totaled $78.8 billion, a 4 percent decline from the 2014 record of $82.1 billion. All cattle and calf marketings during 2015 totaled 52.4 billion pounds, down 1 percent from 2014. This was combined with the
market year average price received for cattle greater than or equal to 500 pounds decreasing $5 per hundredweight from $152 per cwt in 2014 to $147 per cwt in 2015.
At 52.4 billion pounds the all cattle and calf marketings were the lowest since 1992, while gross income was second largest on record. Cattle production in 2015 was 41.5 billion pounds, up 3 percent from the 40.2 billion pounds produced in 2014.
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