The smallest beef cow inventory in the last 50 years, coupled with historically strong demand, led to the highest average fed cattle and calf prices in 2023. As reduced cattle numbers and beef production continue over the next three years, leverage and profitability will continue to favor cattle producers, attendees of the 2024 Cattle Industry Convention and NCBA Trade Show learned during the popular CattleFax Outlook Seminar.
Despite record prices, expansion will likely be delayed once again. Lingering drought, high input costs, limited labor availability, high interest rates, and market…
