Livestock economists are not expecting much change in next year’s cattle market.
Experts are Rabobank say producers are holding back replacement heifers as they continue fighting drought and high feed prices. Right now, researchers are focused on studying total female cattle slaughter numbers, and they estimate 2022 will end with 17.6 million head of cows and heifers slaughtered. They warn those numbers could have long-lasting implications, including sacrificing gains in next year’s cow herd.
Without better precipitation over the winter and into next spring, researchers say the pattern will likely continue into 2024’s cow herd.
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Fewer cattle on feed suggest smaller slaughter numbers this winter, which could support strong prices if beef demand holds firm.
Dairy farmers are expected to face strong output and export gains, but lower prices and tighter margins will persist into next year.
The USDA NASS report also confirms lower August placements.
