USDA’s latest Cattle on Feed report had July placements outside the upper end of pre-report expectations. The report could mean two things for the markets, according to University of Missouri Livestock Economist Scott Brown. Not-as-strong cattle prices could be in the near term, but stronger prices are still expected as we get into 2023.
Drought continues to force many producers to pull ahead lightweight calves, which were totaling 35,000 head. Meanwhile, cattle in the heavier weight classes have declined, likely due to liquidation decisions amongst tough-to-get hay and high feed prices. The August report was 1.4% above the cattle on feed numbers last year.
Featured
-
400 Farm Groups Advocate for Protecting and Enhancing Crop Insurance in the 2023 Farm Bill BudgetMarch 16, 2023 -
President’s Proposed FY2024 Budget Confirms Crop Insurance IndispensableMarch 16, 2023 -
Grocery Food Inflation Maintains 10% HikeMarch 16, 2023 -
California Flooding Devastates Hundreds of Strawberry FarmsMarch 17, 2023 -
Access to Mexican Corn Market Critical for Success of U.S. GrowersMarch 17, 2023