The lowest cattle herd inventory since 1951 is contributing to beef cattle prices reaching
record-high territory, which in turn is costing consumers more at the grocery store.
USDA Livestock Analyst, Mike McConnell says that despite the climb, demand is still strong.
“We’re at the point of the season now we’re being a transition on the beef demand side towards the summer grilling season. So, you know a lot about what we see happening in the cattle and beef markets, next couple weeks and months, is largely going to be predicated on how consumers respond and what kind of beef demand we get and how that works its way back through the system. So, I think that’s what we’ll be paying attention to the next couple of weeks and months as we prepare our forecast and I imagine the market is gonna be doing the same,” McConnell explains.
He expects the beef herd to continue to contract as producers continue to sell off heifers at elevated prices.
If you are planning to retain your beef herd though, new technology can help improve feed efficiency and ultimately your bottom line.
Nutrition company, Furst MnNess launched a new beef product portfolio called “Legacy Forward Beef”.
It is an effort to improve feed conversion without sacrificing quality.
This goes hand in hand with a recent study where the University of Nebraska-Lincoln found innovative products, like Prime Force can help livestock have increases in average daily gain without negatively impacting marbling scores or quality grade.
A ruminant nutritionist with the company says that quality is what is important right now in the market.
