2021 NCBA: Improved outlook for cattle producers
An ag economist says all signs are pointing to an uptick in cattle prices, reports Meghan Grebner for Brownfield Ag News.
19 August 2021
1 minute read
Grebner reported live last week from the 2021 NCBA Cattle Industry Convention in Nashville, TN, USA.
CattleFax’s Kevin Good told convention attendees that 2021 has been the third consecutive year of liquidation and the third year of a smaller calf crop, which means there are fewer cattle in the system.
“We’re placing less cattle so we’ll gradually get into those tighter supplies in late 2021 to 2022, and as we do that combined with what is still record beef demand, we would suggest prices will move higher,” he says.
In an interview, Good told Brownfield's Grebner that strong demand for US beef domestically has also helped improve the price picture.
“We’re gaining market share compared to both pork and poultry and price spreads between the three proteins is wide with beef holding a distinct advantage,” he says. “We think the big driver there is that we have a more consistent, higher product.”
To hear Grebner's 6-minute interview with Good, click here.
Many thanks to Meghan Grebner and the Brownfield Ag News team for sharing this news coverage with The Cattle Site readers.TheCattleSite News Desk
