A livestock economist says the latest Cattle on Feed report from the USDA indicates the herd still isn’t growing. University of Missouri’s Scott Brown says, “I think we’re going to keep getting tighter.”
He says beef cow slaughter also slowed this month. “But it’s not a strong enough signal in my book yet to suggest that we’re really building,” he says. “It’s not surprising to see lower beef cow slaughter when inventories have been moving lower here of late.”
Which, he says, could indicate prices might move even higher.
