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USDA lowers beef production, price forecast

Demand structure shift and processing plant impacts weighing on outlook for beef sector.

Many livestock commodities are experiencing a shift in channel and product demand due to COVID-19. As retail demand has spiked, much of the foodservice sector and schools have been closed, creating a large imbalance in the supply chains. For the beef sector, the impact has been felt in both the quantities and cuts of beef demanded, the U.S. Department of Agriculture's latest “Livestock, Dairy & Poultry Outlook” report noted.

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