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Beef prices set to surge further as farmers sell off cattle herds
.yahoo ^ | Sat, July 30, 2022 | Breck Dumas

Posted on 07/30/2022 5:39:55 AM PDT by dennisw

U.S. cattle producers are sending higher numbers of breeding stock to the sale barn, and some are liquidating their herds entirely, signaling a trend that analysts say will likely push already-elevated beef prices even higher in the not-too-distant future.

The latest cattle report from the U.S. Department of Agriculture shows the market has contracted to levels not seen in years, with total inventory dropping 2% to 98.8 million head since July 2021.

But it's not just the reduction in cattle overall that is of concern. It's what is getting sent to slaughter. There is a notable boost in calf-producing females getting sold for processing in addition to steers, which are typically favored for consumption.

"We are seeing large numbers of female stock have been placed in feedlots," USDA livestock analyst Shayle Shagam said in a radio report for the agency Tuesday.

HEAT WAVE HITS US FARMS, STRESSING CROPS AND RANCHERS' HERDS

The number of females in feedlots is up 3%, and existing herds are down roughly 2.7% from a year ago. Shagam said that combination means "supplies of cattle going to feedlots is going to be declining," resulting in "progressively tighter supplies of all fed cattle available for slaughter as we move into 2023."

With the price of ground beef up 9.7% in June from the same month a year ago, the ongoing decrease in supply could cause prices to surge even further than earlier estimates. The USDA's previous price forecast projected average steer prices would be up nearly 8.5% next year, prior to the storm of conditions causing increasing headaches for producers.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Food
KEYWORDS: agriculture; beef; food; livestock; supply
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To: dennisw

Headline makes no economic sense.


61 posted on 07/30/2022 9:03:48 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: jjotto

Thanks, will do- our side is under attack like never before- the left are really pushing their filthy agendas like never before-


62 posted on 07/30/2022 9:15:03 PM PDT by Bob434 (question)
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To: dennisw

It’s hard to believe that OUR FARMERS AND RANCHERS ARE GOING TO LET THOSE FANATIC LUNATICS AT DAVOS control them.

Please God, if we allow ANY OF THIS CRAP TO TAKE HOLD...

Someone...someone big and strong HAS TO STEP FORWARD AND TELL US WHAT TO DO TO ...STOP THIS INSANITY.


63 posted on 07/30/2022 9:15:05 PM PDT by Maris Crane
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To: Ikeon

“More beef in the market should mean LOWER prices. Not higher.. “

Well sure in the short term term. More cow beef coming which mostly goes for hamburger.
But the cow herd takes a long time to rebuild once it shrinks. And they are shrinking the cow herd.
Takes about three years to rebuild the cow herd and get cattle to market.
Cattle cycle 101 stuff.


64 posted on 07/30/2022 9:24:12 PM PDT by HereInTheHeartland (Have you seen Joe Biden's picture on a milk carton?)
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To: dennisw
we have three freezers full of meat....we have an empty fourth but I hate running so many big appliances....

however, there are "sales" going on now and if one can they should get as much beef as possible.....because beef...its whats for dinner.

65 posted on 07/30/2022 9:24:25 PM PDT by cherry (;)
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To: Doctor Congo

prices are a bit lower now....it won’t last....buy now...


66 posted on 07/30/2022 9:28:20 PM PDT by cherry (;)
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To: Born to Conserve

I did cook up a woodchuck once except we call them rock chucks here in the west....don’t know how it tasted because I wouldn’t eat it.....others seem to enjoy though...


67 posted on 07/30/2022 9:32:29 PM PDT by cherry (;)
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To: RedMonqey

Girl friend said the same, they did have pigs and cows but they were farmers due to the crops. I did not get there were crops in this article. It sounded more like they were in the ranching business to me and have never heard livestock folks call themselves farmers.


68 posted on 07/31/2022 6:21:11 AM PDT by Jolla
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To: Jolla

AFAIK, most ranch cattle are sent to FARM feedlots to fatten up before slaughter.


69 posted on 07/31/2022 6:31:04 AM PDT by jjotto ( Blessed are You LORD, who crushes enemies and subdues the wicked.)
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To: Bob434

Our family was split between two sisters when our great grandmother died. When our aunt died her kids couldn’t wait til the dirt was settled on her grave to sell off her part.

We are hanging by our fingernails to keep the developers off us. Offered over $40,000 per acre.


70 posted on 07/31/2022 8:18:46 AM PDT by RedMonqey
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To: Jolla

If you have strictly graze land like your have our west, you can call yourself a rancher.

It also takes alot of ranchland to raise a single head. Something like 20-50 acres per year, depending on water, grass.
In Tennessee we can raise over two hundred cows on a five hundred acre farm that has plenty of woods and crop land. On something around two hundred acres. We get plenty of rain, good siol and warm weather and put up plenty of hay for the winter. This year will be tight.


71 posted on 07/31/2022 8:26:33 AM PDT by RedMonqey
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To: RedMonqey

$40,000 an acre? Wow. But the land really is worth much more for ehat it can produce over generations. Not just in monetary terms, but in family value terms and self worth terms as well. I hate seeing farms get split up and sold to people who have no intention of keeping the farm goung by relatives that want nothing to do with farming life. As you know, it makes it near impossible for,the remaining family members who want to keep it to hang on and make it profitable then. Sorry to hear of your situation. Our nation is not headed in a lgood direction. Farming is so dang expensive these days, and lots don’t make it, which leaves us less able to get the food the nation needs. Now,the left are attacking meat ranches/farms too. We are gonna be in trouble as a nation soon if it continues.


72 posted on 07/31/2022 8:29:52 AM PDT by Bob434 (question)
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To: Bob434

Your so right. Once farmland has been paved it’s gone forever. And with a greater population but declining farms cannot portend to a bright future.
Lots of good land in Africa but it’s political situation is a terminal mess.
I’ll probably be dead before we get to Soylent green time but not by much.


73 posted on 07/31/2022 9:15:52 AM PDT by RedMonqey
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To: RedMonqey
Your so right. Once farmland has been paved it’s gone forever.

Don't it always seem to go...

74 posted on 07/31/2022 9:16:54 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: RedMonqey

Agreed, its a very bad trend with no good outlook. People are nearsighted, and the masses will suffer for it.


75 posted on 07/31/2022 9:20:01 AM PDT by Bob434 (question)
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To: dfwgator

“Paved paradise and put up a parking lot...”


76 posted on 07/31/2022 10:26:55 AM PDT by RedMonqey
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To: Bob434

Some of my cousins bought beach front property in Florida.

Is it a sin I’m hoping for a hurricane to hir Fort Walton abeach?


77 posted on 07/31/2022 10:28:48 AM PDT by RedMonqey
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To: RedMonqey

lol- maybe just a small hurricane that destroys their flower bed lol


78 posted on 07/31/2022 11:15:14 AM PDT by Bob434 (question)
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