WASHINGTON -- Beef production in 1998 is expected to decline slightly from 1997 levels, which could put upward pressure on retail prices, according to reports from the Economic Research Service of the U.S. Department of Agriculture here.
age supplies and grain prices become more favorable.
The agency concluded that although the downward shift in beef supplies is raising cattle and retail beef prices, expected large and expanding supplies of competing meats would be likely to put limits on beef price increases during the year.
A turn in the cattle cycle -- when the nation's cattle herd will begin to expand again -- appears unlikely to occur before 2000, the ERS said.
