Expect Russia’s invasion of Ukraine to dominate the State of the Union address tonight. As for issues affecting agriculture, there may be few details offered, says USDA Secretary Tom Vilsack.

Even in regions showing gains in beef cow inventories, price increases have been slow to develop this year. Overall, ranchers continue culling the breeding herd at a significant rate through the first quarter of 2022.

Friday’s Cattle on Feed was not expected to create any additional near-term market volatility. Yet, a closer analysis finds heavy front-end numbers along with signals the feeder cattle supply is tightening.

With uncertainty taking over the grain market, it’s a double whammy for livestock producers who are facing higher feed costs, as inflationary pressures may create more headwinds on the demand side in 2022.

First it was just drought, now we have war in eastern Europe. On Feb. 24 Feeder Cattle futures were down over $4, Live Cattle were down over $2. The futures market jitters have given a lot of us more to worry about.

Current shipping bottlenecks and the importance of a “just-in-time” market loom over red meat exports in 2022. USMEF Economist Erin Borror commented on the industry’s supply chain challenges.