Expansion of the U.S. cow herd won’t slow down anytime soon, according to Rabobank analysts who are projecting 1.6 percent to 2.2 percent growth in the beef cow herd in the next two to three years.

Rabobank recently published the U.S. Long-term Beef and Cattle Outlook report, which outlines how expanding beef production will increase the need for exports. Don Close, senior analyst of animal protein, and Sterling Liddell, senior analyst of data analytics, authored the report for RaboResearch Food & Agribusiness.

The U.S. cow herd has been in an expansion phase since 2014, after several years of declines stemming back to 1995. The most dramatic drop in ...