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A University of Tennessee economist says the January 1 cattle inventory, combined with record low hay stocks and high feed prices, points to strong cattle prices for at least three years. Heifers may keep entering slaughter this winter, so herd expansion would likely not begin until the second half of the year.
Feeder prices should rise quickly once heifer retention starts.
Delayed heifer retention keeps near-term supply tight and points to stronger feeder cattle prices in 2024 and 2025. High feed costs limit how fast herd rebuilding can occur.
u.osu.eduSmith atFeb 8, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
