Beef's economic indicators point to a seasonal decline during the weeks ahead. Four of the eight arrows point higher, but two critical indicators, cattle prices and performance and margins point lower. Production costs and competitive meats have sideways arrows. Lower cattle prices and declining feedyard margins are likely to dominate the industry the next four to six weeks. Relatively low feed costs will help hold feedyard cost of gain in the high $40s, but feeders will see some red ink this summer. Long-term, prices will move higher as declining beef production becomes the norm over the next year or two. Projections call for total U.S. beef production to be down 6 percent next year, due largely to declining available numbers of cattle to feed.