High Beef Prices Unlikely To Translate Into High Beef Profitability
April 28, 2023 7:10AM CDT
University of Missouri livestock economist Scott Brown delivers the baseline outlook for livestock commodities during the Abner Womack Missouri Agriculture Outlook Conference on April 12th, 2023 at the Bradford Research Center east of Columbia. (Kyle Hill, Alpha Ag Network)
A University of Missouri economist says despite record cattle prices for both cash trade and futures, livestock producers aren’t expected to see a boost in their profitability. During his presentation at the Abner Womack Missouri Ag Outlook Conference earlier this month, livestock economist Scott Brown noted that expenses remained high, resulting in cattle producers still dealing with tight margins.
Brown says the continued high price of feed, specifically corn, could impact growth.
MU Livestock Economist Scott Brown adds that the overall economy will also impact profitability, as consumer demand shifts based upon what they’re able to afford.
