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U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers reduce their cattle herds due to drought and lofty feed costs, a decision that will tighten livestock supplies for years.
Cattle markets reversed a month-long lower trend with decent gains in all regions, a strong indication retail buying for the Labor Day holiday has begun.
Packers had to pay up to acquire the numbers of cattle they wanted last week helping to clean up show lists and signaling the summer lows may be in the rearview mirror.
Beef exports in June 15.2% higher while beef imports were down 15.3%. Strong exports are helping offset domestic demand struggles as beef imports decreased in the face of higher cow slaughter and lean beef production.
From beef cattle economic outlook to improving efficiency in feeding strategies, the 2022 KSU Beef Stocker Field Day is set to be held on Sept. 29
Fourth of July Spreads Didn’t Shrink, But Consumers Are Hitting Their Limits With Higher Food Prices
Compared to five months ago, more Americans are making changes in response to higher food prices, according to a recent study by Purdue University.