Beef production for 2022 was raised by 16 million pounds as slaughter speeds continue to run relentlessly. The third quarter of 2022 actually saw a 25-million-pound dip in production from last month's report as carcass weights are waning, but the third quarter's draw back was more than offset by the 40-million-pound addition to the fourth quarter. Beef production for 2023 was raised by 70 million pounds, with the first quarter of 2023 being raised by 150 million pounds from August's WASDE report, while the second quarter of 2023 remained unchanged. Steer prices are expected to average $143.00 (up $3.00 from last month) for the third quarter in 2022, and fourth quarter prices are unchanged at $147.00. 2022 beef imports fell by 45 million pounds, and beef exports for 2022 held steady. Beef imports and exports for 2023 were unchanged from August's report.
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