Beef prices to spike with U.S. cattle herd falling, Bloomberg says

The U.S. cattle herd has been diminished by approximately 3% as of January 1, from the same time in 2022, resulting in the smallest herd population since 2014, wrote Michael Hirtzer and Elizabeth Elkin for Bloomberg. "With fewer cattle supplies becoming available, beef production is expected to undergo a sizable decline over the next few years," said a livestock-market reporter at Urner Barry, an industry publication, according to Bloomberg. Companies that may be impacted include: McDonald’s (MCD), Shake Shack (SHAK), Beyond Meat, (BYND) Hormel Foods (HRL) and Tyson Foods (TSN). Reference Link