The US Department of Agriculture (USDA) has said that beef production in the country is set to slow down in 2019 relative to previous years.

Growth of just 1.5% is expected, which is not as high as previously anticipated.

The overall beef outlook for 2019 is set at 27.3bn pounds but this is 310m pounds less than the USDA’s previous forecast.

You've got ... supply constraints in the beef market and demand which has been quite solid

“I think you’ve got lighter carcase weights as we’ve seen some cold temperatures which have impacted feed conversion in the Midwest and the plains,” Agriculture Outlook Board chair Seth Meyer said, explaining the drop in projections.

However, the drop in numbers is expected to have a positive impact on prices.

“You’ve got maybe some supply constraints in the beef market and demand which has been quite solid,” Meyer said.

The USDA predicted that steer prices are expected to average at $119.16/hundred weight in 2019, which is $1.14 more than US analysts were predicting a month ago and $2.50 more than last year’s average.

Last year, Japan was the top export market for US beef, followed by South Korea and Mexico.

The Irish Minister for Agriculture Michael Creed led a trade mission to Japan and South Korea in 2017 and is keen to improve Irish trade with both countries with another trade mission planned for 2019.

However will have to compete with the established market space held by beef and dairy powerhouses such as the US and New Zealand.

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