A livestock economist says as long as demand holds, there’s still a lot of upside potential in the cattle markets.
Brenda Boetel with the University of Wisconsin-River Falls says beef prices are high and the question remains how long consumers will continue to pay those prices. “How long is it that they’re going to want to continue to pay for those high beef prices? If we start to see a recession or if we start to see continued sluggishness within the economy or continued decreases in consumer savings, that might push back on beef consumption a little bit.”
Boetel says tighter beef supplies are impacting demand elsewhere.