American cattle producers liquidated about 1.2 million head out of their inventory during 2019 and 2020. Today’s herd is about 30 percent smaller than the all-time high, but beef production will likely set a record this year. What’s ahead for the rest of 2021? Kevin Good, Vice President of Industry Relations and Analysis with CattleFax, says weather and the cost of feed are two things to keep an eye on.
Good says there are a couple of other factors that will likely “drive the ship” in the cattle market.
Good summarizes the CattleFax outlook for 2021.