Cattle prices are forecasted higher as beef supplies are expected to tighten, but that doesn’t mean an expansion of the cattle herd is coming anytime soon.
University of Missouri’s Scott Brown says drought is the biggest contributing factor in the reduction in beef production. “Dressed weights were down 6 pounds relative to a year ago,” he says. “Steer slaughter was actually down 8.2%. It’s heifer slaughter that’s up 4.8% and beef cow slaughter up 10.6% that got us less beef production.”
He tells Brownfield he’s keeping a close eye on federally inspected slaughter facilities in Regions 6 and 7, which include Missouri, Kansas, Texas, Oklahoma, and Nebraska.