LIVESTOCK MARKETS: Beef markets adjust to increasing supplies

Retail beef prices adjusting slowly, signaling strong beef demand.

U.S. beef production is expected to increase 4-4.5% in 2016 after annual decreases of 5.7% in 2014 and 2.3% in 2015, according to Oklahoma State University Extension livestock marketing specialist Derrell Peel.

A 12-month moving average of beef production reached a low in October 2015 — the lowest since May 1994 — and has been increasing since. In the first half of 2016, monthly beef production averaged 5.3% above year-earlier levels, Peel said, adding that beef production is expec

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