Economics of U.S. Beef and Cattle Market
Several years of drought, low cattle prices, and record-setting input and supply costs have led to a shrinking cattle herd, which, paired with strong consumer demand for beef, has pushed prices for beef and cattle to record levels.
Cattle farmers have faced significant challenges, including COVID-19-related supply chain disruptions, low cattle prices, persistent drought conditions, growing threats of invasive pests and diseases, a decades-low supply of beef cows, and historic inflation in production costs.
However, cattle ranchers, backgrounders, stockers, and cow-calf producers are now experiencing dependable economic returns, allowing them to rebuild working capital and consider restocking America’s beef herd.
Despite this, record-high production costs make efforts to grow the cattle herd more difficult.
No direct quote available in the text.
Author's summary: U.S. cattle market faces challenges and opportunities.
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