Cattle prices have pulled back recently, but a livestock economist says it likely won’t last for long. University of Missouri’s Scott Brown says, “I’m not convinced that we’ve seen our record yet.”
He tells Brownfield while prices have pulled back recently – the fundamentals haven’t changed. “We’re seeing cattle get in the feed yard at this one time being pushed a little higher,” he says.
October placements indicate an increase in beef production in the near-term, but Brown says it’s a different story longer-term.