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Economist projects good 2018 for beef producers

An economist predicts 2018 will be another good year for livestock producers, just not as good as 2017.

Brenda Boetel is the Chair of Agricultural Economics at the University of Wisconsin River Falls and says to expect continued demand and good prices for animal protein in 2018.  She tells Brownfield one reason for the demand is more people can afford to eat out.  “They’re eating in those fine dining establishments.  That’s where a lot of those high-value cuts of beef are consumed there.”

Boetel says producers still have to watch the markets and the weather, and make good decisions.  “It means from a packer’s (perspective), you’ve got to stay current.  You have to make sure you when it is you’re marketing those animals and market them at the appropriate times.  If you are a cow-calf producer or a feeder, you’ve got to be watching the weather.  Potentially, if we see continued drought, we could potentially see some shortages of yearlings or calves that would be available for feeders in the third quarter if that were to continue.”

Boetel spoke about livestock, corn, and soybean markets, and stressed trade is vitally important to maintain meat prices and improve the corn and soybean outlook.