Low prices could stick around for the next few years. Researchers at the University of Missouri say large global stocks are helping suppress prices across the board.
“Yeah, we’ve had a lot of supplies globally right now. And unless there’s something, a big change of the demand side of the picture, ordinary weather conditions around the world the next several years would lead to continue large supplies. Obviously, we’re going to have some weather shocks the like in the near term, so we don’t know which year will be a good year, which will be might be a bad year. On average, we think current prices are more or less reflective of the current market situation,” said Dr. Pat Westhoff.
Westhoff says considering the current situation, there is not real need for farmers to consider acreage shifts for next year.
Despite volatile cattle and hog markets, many producers continue to avoid futures and options.
NCBA President-elect Kim Brackett discusses why succession planning is essential for farm and ranch families and how a new free resource can help producers plan for the next generation.
Dr. Faith Parum discusses fertilizer market conditions, Farm Bureau’s new strategic fertilizer report, and policy options to strengthen the U.S. fertilizer supply chain.
USDA Under Secretary for Trade Luke Lindberg discusses the Port of Seattle’s role in ag exports, meetings with Washington producers, and the administration’s priorities for trade and expanding export opportunities.
USDA Cattle on Feed report for July shows fewer cattle entering feedlots and inventories remaining below last year as ongoing supply constraints continue to support the cattle market.
Analysts say both crop conditions and geopolitical risks are influencing market sentiment.
