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Meat production will continue to grow in 2019

Iowa State University Extension livestock economist Lee Schulz says there will be even more meat on the market in 2019.

“On the pork market, we’re expecting anywhere from two to three percent larger. The beef supply, could be up even more that—three to four percent larger.”

Considering that livestock production has been growing in the U.S. for five years, Schulz says it’s “pretty remarkable” that cattle and hog prices are where they are today. He says whether prices continue to hold will depend on continued strong demand, both at home and abroad.

“We’re not expecting (U.S.) per capita consumption to increase all that much in 2019—and even into the next several years,” he says. “So it will be very important that we continue to maintain our export momentum that we’ve seen in 2018, to absorb those additional pounds of both beef and pork.”

Schulz says increases in meat exports to South Korea and emerging markets like Colombia and the Dominican Republic have helped offset some of the damage done by trade and tariff battles with China and Mexico.