Beef Buzz News
Cattle Market Forecast Calls For Strong Prices Ahead Says Kevin Good With CattleFax
Fri, 26 Feb 2021 08:51:05 CST
If we can get through the next few months, cattle prices will be strong for the next several years said Kevin Good, vice president of industry relations with CattleFax.
Ron Hays Beef Buzzes With Kevin Good
Good laid out the future market price expectations as part of the annual CattleFax market outlook seminar during the virtual winter NCBA policy conference this week.
The cattle market analyst said good beef demand and higher prices will be the rule, beginning with the calf market.
We would expect it to bounce back to pre covid levels, Good said.
Prices are in the 160’s now and going into the spring grass season the prices will go up to the 180 range, Good said.
He expects lows to still occur in the fall run but less pronounced, followed by a nice rally ending the year.
That suggests during the fall run this year we could easily average 10 to 15 cents higher than a year ago, Good said.
Overall, the cattle price outlook is strong later this year and for the next several years, but in the short-term large supplies will hold prices down, he said.
Combining the grain production and weather forecasts with the cattle supply outlook paints a strong picture for all classes of cattle, Good said.
The CattleFax analyst specifically pointed to utility cows as he expects that class to become an even larger piece of the cattleman’s paycheck for the next several years.
Strong demand for trimmings and hamburger has trended the utility cow market higher since 2018, Good said.
In addition to his cattle price forecast, Good presented a post-covid economic cattle market outlook.
He expects expanded competition between the retail market and the food service industry combined with the export market giving the beef industry a three-pronged demand structure that should keep protein prices high.
Click on the LISTEN BAR below to hear more comments from Kevin Good.
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