After years of liquidation, the U.S. cattle herd continues to contract. With drought still a driving force behind lower cattle numbers, market experts think cattle price could top previous price records set back in 2014.
As Cattle on Feed and Cattle inventory reports release today, economist Kevin Coburn shares his expectations and how the numbers might affect the cattle cycle.
With spring upon us and drought persists, liquidation puts the industry on track to reduce the nation’s cowherd back near 2014 levels, which was the smallest beef cowherd since 1952.
Maps show the severity of drought in eight Central Plains states and where they began 2022 in beef cow numbers. These eight states represent 52% of America's beef cows, and accounted for 67% of last year's herd culling.