Beef production for 2023 was raised by 50 million pounds as the first quarter of 2023 grew by 140 million pounds from last month's projections, which more than offset the 90-million-pound decline projected for the second quarter of the year. The large production for the first quarter of 2023 stems from aggressive cow slaughter, while the reduction for the second quarter portrays tighter fed cattle supplies. Price projections for the first quarter of 2023 gained $1.00 to average $158.00 from January's report, and the second quarter prices grew by $2.00 from January's report to now be projected at $159.00. Both the third and fourth quarters of the year remained steady at $157 (third quarter) and $162.00 (fourth quarter). Beef imports for 2023 grew by 25 million pounds, while exports remained steady.
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