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Global AgriTrends issues optimistic beef industry outlook

The president of Global AgriTrends says he’s optimistic for the beef industry in 2023 despite soaring inflation.

Brett Stuart says herds are contracting and demand remains strong. “I think the US cattle producers are in a pretty good spot for all of the chaos in the world today.”

He says producers were able to hedge inflation with land that was purchased over three years ago. “You have a land-based investment that is going to ride the inflation wave,” Stuart said. “Based on supply and demand, you have a fighting chance to stay ahead of this. You have a fighting chance that your calf prices are going to be able to pay for that expensive diesel and fertilizer.”

Stuart says the US herd is down 1.7 million head over two years due to drought. He spoke at the 2022 Iowa Cattle Industry Leadership Summit.