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Spring breeding season is just around the corner, which means cattle producers are entering the sire selection process. In order to maximize economic return, producers need to carefully align breeding system decisions and market targeted calves.
The current outlook communications for the cattle and beef markets in 2021 are commonly optimistic – bullish. The underlying market fundamentals support this position.
The Cattle Inventory report provides lots of information but does not answer one important question: What is the inventory of feeder cattle available to be placed in feedlots for finishing?
The latest Cattle on Feed report was released Jan. 22. Included in this report were placements and marketings for December 2020 and the on-feed total for Jan. 1, 2021.
For the final quarter of 2020, beef production was raised 15 million pounds on greater expected non-fed cattle slaughter that was partially offset by lower average cattle carcass weights. As a result, 2020 beef production is forecast at 27.2 billion pounds.
With the challenges of today's turbulent times and a new president on his way to the White House, there will surely be a lot of changes coming for the beef industry in the near future.
U.S. beef trade is stabilizing as the ripple effects of the initial COVID-19 disruptions continue to fade. The latest beef trade data for November shows that monthly exports were up 13.2% year over year.
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