7 Contribution of the Beef Industry to the Economy of the Great Plains and Western U.S.: Past, Present, and Future

Abstract

Abstract The Great Plains and Western U.S. are home to over 60% of all beef cows and over 80% of all cattle on feed in the U.S. While the dynamics of the beef industry in these regions continue to evolve, the significant economic impact generated by the sector remains steadfast. The main objective of this presentation is to provide foundational information on the economic contributions of the beef industry in the Great Plains and Western U.S. to set the stage for subsequent presentations regarding climate adaptation strategies in the sector. The presentation is comprised of three key components. First, a high-level view of the historical progression of the beef industry in the Great Plains and Western U.S. is documented to provide a basis for deeper discussion surrounding the present and future state of the industry. Second, the current conditions of the beef industry in the regions are explored including existing challenges faced by industry participants. Producer profitability in 2023 and the state of the cattle cycle are briefly discussed. Drought conditions are highlighted along with their continuing effects on the industry. Third, we look to the future and dive into prospective opportunities for the sector. The dynamic nature of the beef industry lends itself to adaptation and innovation. As producers and industry participants explore climate adaptation methods going forward, a primary factor in making decisions to alter existing practices or adopt new technologies is the economic return (or lack thereof) generated by proposed strategies. Ongoing work at Kansas State University examines producer sentiment surrounding various strategies, including new technologies aimed at reducing livestock enteric methane emissions. Preliminary findings of this work are outlined along with identified areas for future research in the space. In conclusion, the beef industry significantly contributes to the economy of the Great Plains and Western U.S. This presentation explores the history of the industry in the regions, the present state of the industry and current challenges it faces, and the potential opportunities to come in the future.