In the cattle markets, USDA says despite a recent drop in cattle placements, beef supplies remain robust.
Last month, we saw a 7 percent decrease in cattle placements in feedlots compared to July of the previous year. However, livestock analyst Mike McConnell highlighted that current cattle inventories are still 1 percent higher than a year ago.
“We have actually seen a fair amount of the pace of imports of live cattle coming from both Canada and Mexico. So what this means is that you know, with additional weight per animal, that’s actually offset a lot of those declines.”
He also mentioned that the USDA report did not provide a clear indication of whether the beef industry’s contraction has ended or if it is ongoing. For now, it seems that there is plenty of beef in the pipeline, keeping production relatively stable despite recent trends.
