During last week’s Cattle Industry Convention, CattleFax held their outlook seminar noting cattle price and profitability trends are pointed in the right direction. Kevin Good, vice president of industry relations and analysis at CattleFax, notes this is despite the challenges and uncertainty brought on by Covid.
And every cattle producer wants to know what the market outlook is. He said they think the trend is higher for 2022.
But Good said risk management is key as he had this note for producers.
CattleFax reported that U.S. beef cow inventories have fallen more than 700,000 head from last year and are off nearly 1.6 million from cycle highs. This year, the beef cowherd will near 30.1 million head.