A look into where cattle markets might head
The latest Cattle on Feed report from the USDA comes out later today.
University of Missouri livestock economist Scott Brown says he continues to watch the placement number each month. “After last month being lower as well, we’ll see if we continue that trend,” he says. “And it will start to give us more indication of tightness in the second half of 2024.”
He tells Brownfield with the herd size continuing to shrink, that also provides some perspective for producers moving forward. “Also some guidance to how much higher could cattle prices go as we look into 2024,” he says.
The numbers come out at 3 Eastern/2 Central.