Economics of U.S. Beef and Cattle Market
Several years of drought, low cattle prices, and record-setting input and supply costs have led to a shrinking cattle herd, which, paired with strong consumer demand for beef, has pushed prices for beef and cattle to record levels.
Cattle farmers have faced significant challenges in recent years, including COVID-19-related supply chain disruptions, low cattle prices, and persistent drought conditions, as well as growing threats of invasive pests and diseases, a decades-low supply of beef cows, and historic inflation in production costs.
For the first time in a long time, cattle ranchers, backgrounders, stockers, and cow-calf producers are experiencing dependable economic returns, allowing them to rebuild working capital and consider restocking America’s beef herd.
However, record-high production costs make efforts to grow the cattle herd more difficult.
Author's summary: U.S. cattle market faces challenges despite economic returns.
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