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Economist says the stage is set for higher cattle prices

A livestock economist says he doesn’t expect cattle producers to start expanding herds anytime soon. University of Missouri’s Scott Brown says producers should prepare for calf prices to move even higher.  “We could go through 2024 and frankly into 2025 before we start seeing any signs of rebuilding the cow herd,” he says. 

He tells Brownfield the 2024 calf crop gets even smaller than in 2023.  “And right now I’m not expecting a quick turnaround in terms of beef cow inventory,” he says. 

In July, the USDA estimated the US calf crop at 34.6 million head, a 1% decline from the previous year and the smallest number since 2015. 

The USDA will update that number in its January Cattle Inventory report which comes out January 31, 2023.