The beef market outlook, cow herd expansion, the benefits of data collection, and the value of technology in cattle production were highlighted during the BeefTech Producer Summit.
Kevin Good of CattleFax spoke about the current state of the U.S. cattle herd and expansion possibilities.
He talked about the record-high values during the past month, and thinks market highs are approaching within the next one to two years.
However, cattle feeders may pay more than they’d like for yearlings and calves.
Year-to-date, beef cow slaughter is down 21%, dairy cow slaughter is down 4%, and the cow market is within a few cents of last summer’s highs.
The numbers suggest cow herd expansion is coming, but the heifer numbers tell a different story.
“The challenge to expansion is heifers that will either be bred or intended to be bred in the coming year are at a record-low,” Good added.
