Livestock Marketing Information Center

March trade statistics were released by the USDA-Foreign Agricultural Service (FAS) and USDA-Economic Research Service (ERS) last week, which finalized first quarter trade figures. Beef imports continue to rise with the first quarter of 2026 reported at just over 1.7 billion pounds, up 227 million pounds (+15%) from the previous year. Compared to a year ago, higher beef imports were seen during the first quarter from Brazil (+12%), Australia (+12%), Mexico (+23%), and Uruguay (+27%) to 394, 248, 197, and 129 million pounds, respectively. First quarter beef imports from Argentina increased 29 million pounds (+90%) from last year to 62 million pounds. Beef imports fell in the first quarter from Canada (-3%) and New Zealand (-2%) to 248 and 170 million pounds, respectively. Lower beef exports were reported during the first quarter of 2026, falling 127 million pounds (-18%) to 586 million pounds. Declines were reported during the first quarter of 2026 for South Korea (-7%), Japan (-17%), Mexico (-8%), and Canada (-9%) to 147, 132, 72, and 54 million pounds, respectively.

FIRST QUARTER DEMAND INDEX: BEEF UP AND PORK LOWER

First quarter demand indexes calculated by the Livestock Marketing Information Center (LMIC) showed year-over-year growth in beef demand while pork demand fell slightly. The retail all fresh beef demand index was calculated at 147 for the first quarter of 2026, which was up from 137 (+7%) last year and the highest of the series going back to the year 2000. Since 2000, a rise of about 10 points in the beef demand index has occurred five other times, 03/04, 14/15, 19/20, 21/22, 24/25. As the beef demand index reached a high for the series, the first quarter all fresh retail beef prices were a record at $9.55 per pound, up $1.25 per pound (+15%) from the first quarter of 2025. The strong beef demand that occurred in 2025 continued into the first quarter of 2026.

RANGE AND PASTURE CONDITIONS IN SOUTHEAST STARTING OUT POORLY

The first week in May commences the reporting of range and pasture conditions in the USDA’s weekly Crop Progress reporting system. The initial measurements this year show more pastures either in very good to excellent condition or poor to very poor condition. Last year, 10% of the beef cow herd was in states with 40% of pastures rated poor or very poor. This year, almost half of the beef cow herd is in states that have 40% of pastures rated poor or very poor. At the opposite extreme, 30% percent of the beef cow herd is in states that have 40% of pastures rated good to excellent, which compares to only 3% of the herd a year ago.