The optimism for better cattle prices is carrying over into the new year.
Despite recent price declines in the market, the National Cattlemen’s Beef Association says the long-term outlook for cattle prices remains positive. The President of the group tells Brownfield Ag News that it provides a glimmer of hope when farmers are out taking care of their livestock in sub-zero temperatures. It is also creating opportunities for the next generation of agriculture.
NCBA says new farmers have a better chance of getting loans right now due to a more-than-likely positive return on investment.
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Texas A&M economist David Anderson says sharp declines in lamb and mutton production are helping support higher prices.
More than 500 U.S. counties currently face shortages of large animal veterinarians, according to USDA.
The update comes as congressional leaders continue working toward passage of a new Farm Bill.
Limited supplies of lean beef continue driving import demand despite historically strong cattle prices.
Strong cattle values persist as producers weigh the costs and risks associated with herd expansion.
Allendale analysts say lower hog production has yet to generate the typical seasonal price movement.
